Section DN 5 — Income Tax Act 2007: Foreign investment fund loss

DN 5 Foreign investment fund loss Deduction (1) A person is allowed a deduction for a FIF loss. Ring-fencing rule for loss calculated under attributable FIF income method (2) The deduction for a FIF loss calculated under the attributable FIF income method is subject to the jurisdictional ring-fencing rule in section DN 8 . Link with subpart DA (3) This section supplements the general permission and overrides the capital limitation. The other general limitations still apply. Defined in this Act: attributable FIF income method , calculation method , capital limitation , deduction , FIF loss , general limitation , general permission , supplement , Compare: 2004 No 35 s DN 5 Section DN 5(2) heading: amended (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 14(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section DN 5(2): amended (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 14(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section DN 5 list of defined terms attributable FIF income method : inserted (with effect on 1 July 2011), on 7 May 2012, by section 14(2)(b) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section DN 5 list of defined terms branch equivalent method : repealed (with effect on 1 July 2011), on 7 May 2012, by section 14(2)(a) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).