Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p30
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 72123–74783

the year of income;
  (b) the deductions were taken into account in working out the
company's PDF component of the year of income. For this
purpose, 'adjusted taxable income' means so much of the
company's taxable income of the year of income as does not
exceed its PDF component of the year of income.
Unregulated investment component
Full-year PDFs
  "124ZV. (1) The unregulated investment component of a year of
income of a company that is a PDF throughout the year of income
is the amount (if any) remaining after deducting from the
company's taxable income of the year of income the company's
SME income component of the year of income.
Part-year PDFs
  "(2) The unregulated investment component of a year of income
of a company that becomes a PDF during the year of income and
is still a PDF at the end of the year of income is the amount
(if any) remaining after deducting from the company's adjusted
taxable income of the year of income the company's SME income
component of the year of income. For this purpose, 'adjusted
taxable income' means so much of the company's taxable income
of the year of income as does not exceed its PDF component of
the year of income.
  "Subdivision C - Adjustments of the tax treatment of capital
             gains and capital losses of PDFs
Definitions
  "124ZW. In this Subdivision:
  'class', in relation to assessable income, means a class
specified in section 124ZY;
  'company' does not include a company in a capacity of
trustee;
  'non-CGT assessable income' means an amount included in
assessable income otherwise than under Part IIIA or this
Subdivision;
  'ordinary 160Z gain amount', in relation to the disposal of
an asset, means any capital gain that would (apart from this
Subdivision) be deemed for the purposes of Part IIIA to have
accrued in respect of the disposal of the asset;
  'ordinary 160Z loss amount', in relation to a disposal of an
asset, means any capital loss that would (apart from this
Subdivision) be deemed for the purposes of Part IIIA to have
been incurred in respect of the disposal of the asset;
  'overall 160Z gain', in relation to a class of assessable
income, means:
  (a) the amount by which the total ordinary 160Z gain amount
for that class exceeds the total ordinary 160Z loss amount for
that class; or
  (b) if an amount has been applied under subsection 124ZZB(2)
in reduction of an overall 160Z gain previously calculated
under this definition - the amount by which that previous
overall 160Z gain exceeds the amount so applied under that
subsection;
  'overall 160Z loss', in relation to a class of assessable
income, means the amount by which the total ordinary 160Z