Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:2_451
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 2 cl 451
Character Range: 855805–856332

451  Subsections 411(1) and (2)
Repeal the subsections, substitute:

 (1) Subject to this section, for the purposes of applying this Act in calculating the attributable income of the eligible CFC, a commencing day asset of the eligible CFC is taken to have been acquired, for the purposes of Parts 3‑1 and 3‑3 of the Income Tax Assessment Act 1997 (about CGT), by it on its commencing day.

Note: The heading to section 411 is replaced by the heading "Commencing day assets taken to have been acquired on commencing day".