Section EX 47 — Income Tax Act 2007: Method required for certain non-ordinary shares

EX 47 Method required for certain non-ordinary shares A person must calculate FIF income or loss for an income year from an attributing interest that is a non-ordinary share described in section EX 46(10) using— (a) the comparative value method; or (b) the deemed rate of return method, if use of the comparative value method is not practical because the person cannot determine the market value of the attributing interest at the end of the income year. Defined in this Act: attributing interest , comparative value method , deemed rate of return method , fair dividend rate method , FIF income , FIF loss , income year , market value , share Section EX 47: substituted (with effect on 1 April 2008), on 6 October 2009, by section 174 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).