Document ID: chunk:federal_register_of_legislation:F2017L00229:body:0:p8
Version: federal_register_of_legislation:F2017L00229
Segment Type: other
Provision Reference: 
Character Range: 17719–20207

amount of the distribution exceeds the additional ordinary income that the individual is taken to receive in accordance with subsection 1207Y (1) of the Act during the attribution period, the Secretary must consider determining that the ordinary income of the individual received during that period does not include so much of the amount of the distribution that equals the additional ordinary income that the individual is taken to receive in accordance with subsection 1207Y (1) of the Act.

Part 4 Determination of derivation period (Act s 1208C)

19 Derivation period must reflect typical income
 (1) This section applies to the determination of a specified period as the derivation period of a specified company or trust in relation to an attributable stakeholder of the company or trust.
 (2) The derivation period must be a period that is determined having regard to the following matters:
 (a) the ordinary income of the company or trust for a derivation period referred to in subsection 1208C (1) of the Act;
 (b) the ordinary income of the company or trust for any other period or periods that may reasonably be regarded as typical earning periods for the company or trust;
 (c) any circumstances affecting the company or trust during the periods referred to in paragraphs (a) and (b);
 (d) whether, having regard to any circumstances referred to in paragraph (c), it is appropriate to use a derivation period different from the derivation period referred to in subsection 1208C (1) of the Act.

Part 5 Determination of attribution period (Act s 1208D)

20 Attribution period must reflect typical circumstances
 (1) This section applies to the determination of an attribution period in relation to:
 (a) a specified individual who is an attributable stakeholder of a specified company or trust; and
 (b) a specified derivation period of the company or trust.
 (2) The attribution period must be a period that is determined having regard to the following matters:
 (a) the ordinary income of the attributable stakeholder for the derivation period;
 (b) the ordinary income of the attributable stakeholder for any other period or periods that may reasonably be regarded as typical earning periods for the attributable stakeholder;
 (c) any circumstances affecting the attributable stakeholder during the periods referred to in paragraphs (a) and (b);
 (d) any circumstances that may reasonably be regarded as likely to affect the ordinary income of the attributable stakeholder.