Document ID: chunk:federal_register_of_legislation:C2025C00014:section:402:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 402 (pt 2/2)
Character Range: 2005287–2006100

eligible period; and
 (c) on the making of the FIF attribution account payment, a post FIF abolition debit arises under section 23AK for the FIF attribution account entity in relation to the eligible taxpayer;
so much (if any) of the whole or the part of the FIF attribution account payment as does not exceed the grossed‑up amount of the post FIF abolition debit is notional exempt income of the eligible CFC for the eligible period.
 (5) For the purposes of subsection (4), the grossed‑up amount of the post FIF abolition debit is:
 (a) where subparagraph 23AK(3)(b)(i) applied in relation to the debit—the amount of the debit; or
 (b) where subparagraph 23AK(3)(b)(ii) applied in relation to the debit—the amount of the debit, divided by the FIF attribution account percentage referred to in that subparagraph.