Document ID: chunk:federal_register_of_legislation:C2019C00020:clause:4_28
Version: federal_register_of_legislation:C2019C00020
Segment Type: clause
Provision Reference: sch 4 cl 28
Character Range: 21160–21709

28  Subsection 995‑1(1)
Insert:
corporate tax rate for imputation purposes, of an entity for an income year, means:
 (a) unless paragraph (b) applies—the entity's *corporate tax rate for the income year, worked out on the assumption that the entity's *aggregated turnover for the income year is equal to its aggregated turnover for the previous income year; or
 (b) if the entity did not exist in the previous income year—the rate of tax in respect of the taxable income of a company covered by paragraph 23(2)(a) of the Income Tax Rates Act 1986.