Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:1_3:p9
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 9/10)
Character Range: 28094–30737

income year) for which it has a notional loss under section 268‑30 of that Act is not taken into account.

 (2) To the extent that the deductions of the partnership or trust for the income year were not taken into account in working out the amount referred to in section 716‑75, they are disregarded in applying paragraph 716‑80(1)(b) or subsection 716‑85(2).

Note: For example, in the case described in the note to subsection (1) of this section, the trust's deductions attributed to that period are not taken into account in working out the trust's net income for the income year.

716‑100  Spreading period

  The spreading period for the amount referred to in section 716‑75 is made up of each period:
 (a) that is all or part of the income year; and
 (b) throughout which the entity is a partner in the partnership or a beneficiary of the trust, as appropriate.

[The next Subdivision is Subdivision 716‑Z]

Subdivision 716‑Z—Other

Table of sections

716‑800 Allocating amounts to periods if head company and subsidiary member have different income years
716‑850 Grossing up threshold amounts for periods of less than 365 days

716‑800  Allocating amounts to periods if head company and subsidiary member have different income years

 (1) The principles in this section apply if:
 (a) an entity becomes, or stops being, a *subsidiary member of a *consolidated group; and
 (b) the entity has an income year that starts and ends at a different time from when the income year of the *head company of the group starts and ends.

 (2) Items are to be allocated to, or apportioned among, periods (whether consisting of all or part of an income year of the entity or *head company):
 (a) in the most appropriate way having regard to the objects of this Part, and of particular provisions of this Part; and
 (b) in particular, so as to ensure that what is in substance the same item is recognised only once for what is in substance the same purpose.

716‑850  Grossing up threshold amounts for periods of less than 365 days

 (1) Under some provisions of this Act, something that is relevant to working out:
 (a) an entity's taxable income (if any); or
 (b) the income tax (if any) payable on an entity's taxable income; or
 (c) an entity's loss (if any) of a particular *sort;
is determined on the basis of a comparison between an amount worked out for an income year, or an amount derived from 2 or more such amounts, and another amount.

Note: The other amount assumes an income year of 365 days.

 (2) This section affects how such a provision (the threshold provision) operates for the purposes of subsection 701‑30(3), which requires