Document ID: chunk:federal_register_of_legislation:C2004C01190:clause:2_477
Version: federal_register_of_legislation:C2004C01190
Segment Type: clause
Provision Reference: sch 2 cl 477
Character Range: 219618–220140

477  Subsection 3(1) (definition of reduced notional income)
Repeal the definition, substitute:

reduced notional income, in relation to a taxpayer deriving a notional income in the year of income, as specified in:
 (a) section 59AB or 86 of the Assessment Act; or
 (b) the former section 42‑300 of the Income Tax Assessment Act 1997;
means the amount that would be that notional income if that notional income had been calculated by reference to the reduced taxable income instead of by reference to the taxable income.