Document ID: chunk:federal_register_of_legislation:C2025C00014:section:385:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 385 (pt 3/3)
Character Range: 1979273–1980178

or trust, to which the first‑mentioned amount is attributable, being not subject to tax or subject to tax.
 (4) Where the sum of the amounts to which paragraph (2)(a) would otherwise apply does not exceed the lesser of:
 (a) $50,000; and
 (b) 5% of the gross turnover of the eligible CFC for the eligible period;
then that paragraph does not apply to those amounts.
 (5) In determining for the purposes of paragraph (4)(b) the gross turnover of the eligible CFC for the eligible period, section 434 has effect as if:
 (a) subparagraph 434(1)(a)(i) were omitted; and
 (b) the words ", but not including amounts that are shown in those recognised accounts as amounts covered by section 436" were omitted from paragraphs 434(1)(b), (c) and (d); and
 (c) the words "(other than an exclusion of amounts shown in those recognised accounts as amounts covered by section 436)" were omitted from subsection 434(2).