Section CV 1 — Income Tax Act 2007: Group companies

CV 1 Group companies An amount that a company derives in an income year and that would not otherwise be income of the company is treated as its income if— (a) the company is for that income year part of a wholly-owned group of companies; and (b) had the group of companies been a single company, the amount would have been income of that single company. Defined in this Act: amount , company , income , income year , wholly-owned group of companies , Compare: 2004 No 35 s CV 1