Section GB 15B — Income Tax Act 2007: Supplies affecting default test for non-attributing active CFC

GB 15B Supplies affecting default test for non-attributing active CFC When this section applies (1) This section applies when a CFC makes a supply— (a) to a person who would not meet the requirements of section EX 21D(1)(a) to (c) (Non-attributing active CFC: default test) for the person to be a member of a test group, under that section, with the CFC; and (b) with the purpose of increasing the amount given by the denominator in the formula in section EX 21D(4) for the CFC. Income from supply included in gross adjustment (2) The income from the supply is included in the item gross adjustments in section EX 21D(9)(d) . Defined in this Act: CFC Section GB 15B: inserted (with effect on 30 June 2009), on 6 October 2009, by section 237(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).