Document ID: chunk:federal_register_of_legislation:C2025C00014:section:317:p10
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 317 (pt 10/12)
Character Range: 1843805–1846474

the commodity;
 (ii) the company does not and will not derive tainted sales income from a transaction under that other contract.
tainted commodity loss, in relation to a company, in relation to a statutory accounting period, means:
 (a) a loss realised by the company in the statutory accounting period from disposing of a tainted commodity investment; or
 (b) a capital loss that the company would have made in the statutory accounting period because CGT event J1 would have happened in relation to a tainted commodity investment, if the assumptions in paragraphs 383(a) to (c) applied.
Note: Basically, the effect of those assumptions is that the company concerned is taken to be a taxpayer and a resident and CGT event J1 may therefore be taken to have happened.
tainted currency exchange gain, in relation to a company, in relation to a statutory accounting period, means a currency exchange gain realised by the company in the statutory accounting period except where the gain related to an active income transaction (within the meaning of section 439).
tainted currency exchange loss, in relation to a company, in relation to a statutory accounting period, means a currency exchange loss realised by the company during the statutory accounting period except where the loss related to an active income transaction (within the meaning of section 439).
tainted income ratio has the meaning given by section 433.
tainted interest income, in relation to a company, means:
 (a) interest or a payment in the nature of interest; or
 (b) an amount that, if the company were a resident within the meaning of section 6, would be included in assessable income under Division 16E of Part III (or would be so included if Division 230 of the Income Tax Assessment Act 1997 did not apply); or
 (c) factoring income;
but does not include:
 (d) income (being interest, fees, commission or other amounts) derived by a person in respect of offshore banking transfers of the person; or
 (e) income consisting of dividends or non‑share dividends paid to a person by a company out of profits derived from the making of offshore banking transfers.
tainted rental income (other than special excluded rental income), in relation to a company, in relation to a statutory accounting period, means income derived by the company in the statutory accounting period by way of rent in respect of any of the following:
 (a) a lease to which an associate of the company was a party at the time the income was derived;
 (b) a lease where any or all of the rent was paid or given by an associate of the company;
 (c) a lease of land, except where the following conditions are satisfied:
 (i) the land