Document ID: chunk:federal_register_of_legislation:C2025C00029:section:9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 9
Character Range: 3621058–3622787

9                  the entity *pays diverted profits tax; and                                                                                                                                                                                                                                  an amount equal to that part of the payment that is attributable to the period during which the entity was an exempting entity, multiplied by the proportion worked out under subsection (2)                                                                            on the day on which the payment is made
                   the entity satisfies the *residency requirement for the income year for which the tax is paid; and
                   the entity was an *exempting entity for the whole or part of that income year

 (2) The proportion is the standard corporate tax rate (within the meaning of Part IVA of the Income Tax Assessment Act 1936) divided by 40%.

208‑120  Exempting debits
 (1) The following table sets out when a debit arises in the *exempting account of the *former exempting entity. A debit in the *former exempting entity's exempting account is called an exempting debit.

Exempting debits
Item              If:                                                                                                                                                                                                                                               A debit of:                                                                                                                                                                                                                                                             Arises: