Section Sch50-“ 32F — Income Tax Act 2007: Calculation of annual gross income when threshold met

“ 32F Calculation of annual gross income when threshold met For the purposes of section 32E(2)(i), when the person is part of a group of companies, the person’s annual gross income is determined by— “ (a) including the total annual gross income in the tax year of other group companies; and “ (b) excluding an amount of assessable income derived by the company or another company in the same group from a transaction or series of related or connected transactions with another company in the group. “ Compare: 2004 No 35 s NF 9(8), (10)