Section EX 18 — Income Tax Act 2007: Formula for calculating attributed CFC income or loss

EX 18 Formula for calculating attributed CFC income or loss If a person has attributed CFC income under section CQ 2 (When attributed CFC income arises) or an attributed CFC loss under section DN 2 (When attributed CFC loss arises), the amount of a person’s attributed CFC income or loss from a CFC for an accounting period is calculated using the formula— person’s income interest for accounting period × net attributable CFC income or loss of CFC for accounting period. Defined in this Act: accounting period , amount , attributed CFC income , attributed CFC loss , CFC , income interest , loss , net attributable CFC income Compare: 2004 No 35 s EX 18 Section EX 18 formula: amended (with effect on 30 June 2009), on 6 October 2009, by section 154(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section EX 18 list of defined terms branch equivalent income : repealed (with effect on 30 June 2009), on 6 October 2009, by section 154(2)(a) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section EX 18 list of defined terms net attributable CFC income : inserted (with effect on 30 June 2009), on 6 October 2009, by section 154(2)(b) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).