Section CX 46 — Income Tax Act 2007: Repayment of loans made from reinvestment profit

CX 46 Repayment of loans made from reinvestment profit When this section applies (1) This section applies when an amount would, in the absence of this section, be income of a company under section CU 16 (Recovery of reinvestment profit on repayment of loans). Excluded income (2) The amount is excluded income of the company to the extent to which it is, or is to be, used for mining purposes in the prescribed period. Defined in this Act: amount , company , excluded income , income , mining purposes , prescribed period Compare: 2004 No 35 s CX 40