Document ID: chunk:federal_register_of_legislation:C2025C00014:section:160zzzp
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 160ZZZP
Character Range: 1517038–1517616

160ZZZP  Dual inclusion income not to be applied more than once
 (1) For the purposes of paragraphs 160ZZZL(3)(c) and 160ZZZN(1)(c), an amount of income or profits is to be disregarded if:
 (a) the amount is dual inclusion income; and
 (b) the amount has been applied by a provision of Division 832 of the Income Tax Assessment Act 1997.
 (2) For the purposes of Division 832 of that Act, an amount of dual inclusion income is not available to be applied by a provision of that Division if it has been taken into account under paragraph 160ZZZL(3)(c) or subsection 160ZZZN(2).