Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 8/11)
Character Range: 7541669–7544466

this section does not apply if:
 (a) the circumstances giving rise to the requirements of paragraph (1)(c) being met arose outside the control of:
 (i) the *IMR entity; or
 (ii) the *independent Australian fund manager or any entity *connected with the independent Australian fund manager; and
 (b) the independent Australian fund manager, or an entity connected with the independent Australian fund manager, is taking steps to address those circumstances.
 (3) Work out the unadjusted concessional amount as follows:
where:
amount not assessable or exempt is the sum of:
 (a) the amount (the 842‑215(1)(a) amount) of the *IMR entity's income for the income year that is, or would (apart from this section) be, *non‑assessable non‑exempt income of the IMR entity because of paragraph 842‑215(1)(a); and
 (b) the amount (the 842‑215(2)(a) amount) of the IMR entity's income for the income year that is, or would (apart from this section) be, non‑assessable non‑exempt income of the IMR entity because of paragraph 842‑215(2)(a), and not because of paragraph 842‑215(1)(a).
amounts not deductible is the amount obtained by adding together:
 (a) the sum of the amounts that are not deductible by the *IMR entity for the income year because of paragraph 842‑215(1)(b); and
 (b) the sum of the amounts that are not deductible by the IMR entity for the income year because of paragraph 842‑215(2)(b), and not because of paragraph 842‑215(1)(b); and
 (c) the sum of the amounts that would otherwise be deductible by the IMR entity for the income year under section 8‑1 if the income in relation to which they were incurred were not income that is *non‑assessable non‑exempt income of the IMR entity because of paragraph 842‑215(1)(a); and
 (d) the sum of the amounts that would otherwise be deductible by the IMR entity for the income year under section 8‑1 if the income in relation to which they were incurred were not income that is non‑assessable non‑exempt income of the IMR entity because of paragraph 842‑215(2)(a), and not because of paragraph 842‑215(1)(a).
disregarded capital gains is the amount obtained by adding together:
 (a) the sum (the 842‑215(1)(c) amount) of the amounts of the *capital gains that:
 (i) are from *CGT events that happen in the income year; and
 (ii) are, or would (apart from this section) be, disregarded in relation to the *IMR entity, because of paragraph 842‑215(1)(c); and
 (b) the sum (the 842‑215(2)(c) amount) of the amounts of the capital gains that:
 (i) are from CGT events that happen in the income year; and
 (ii) are, or would (apart from this section) be, disregarded in relation to the IMR entity because of paragraph 842‑215(2)(c), and not because of paragraph 842‑215(1)(c).
disregarded capital losses is the amount obtained by adding together:
 (a)