Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gn:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GN (pt 3/3)
Character Range: 1405492–1407137

purposes of section 159GJ, a reference in that section to the total notional principal in relation to an eligible amount in relation to the item of eligible property in respect of the application period shall be taken to be a reference to the amount that, but for this paragraph, would be the total notional principal, as increased by the amount of any deduction allowable under paragraph (c) of this subsection in relation to the eligible amount in respect of the application period; and
 (e) for the purposes of the application of section 159GK, any eligible amount in relation to the item of property in respect of the application period shall be ascertained in accordance with the formula AB, where:
  A  is the amount that, but for this section, would be the eligible amount; and
  B  is the exempt income fraction in relation to the application of this Division concerned.
 (4) For the purposes of subsection (3):
 (a) a reference in that subsection to the assessable income fraction in relation to an application of this Division in relation to an item of eligible property is a reference to the amount of the assessable income referred to in paragraph (3)(b) expressed as a fraction of the sum of that assessable income and the exempt income referred to in paragraph (3)(a); and
 (b) a reference in that subsection to the exempt income fraction in relation to an application of this Division in relation to an item of eligible property is a reference to the fraction ascertained by subtracting the assessable income fraction in relation to that application of this Division in relation to the item of eligible property from the number 1.