Section FM 9 — Income Tax Act 2007: Amounts that are company’s income

FM 9 Amounts that are company’s income When this section applies (1) This section applies when a company that is part of a consolidated group derives an amount that would not be income of the company in the absence of this section, but would be income of the consolidated group if it were 1 company either— (a) because of a purpose for which an item of property was acquired; or (b) because a connection exists between the amount and the carrying on of a business by another consolidated group company; or (c) for some other reason. Income (2) The amount is income of the company under section CV 2 (Consolidated groups: income of company in group). Defined in this Act: amount , business , company , consolidated group , income , Compare: 2004 No 35 s HB 2(1)(e)