Foreign investment fund (FIF) loss

DN 5 Foreign investment fund loss
Deduction

(1)

A person is allowed a deduction for a FIF loss.

Ring-fencing rule for loss calculated under attributable FIF income method

(2)

The deduction for a FIF loss calculated under the attributable FIF income method is subject to the jurisdictional ring-fencing rule in section DN 8.

Link with subpart DA

(3)

This section supplements the general permission and overrides the capital limitation. The other general limitations still apply.

Defined in this Act: attributable FIF income method, calculation method, capital limitation, deduction, FIF loss, general limitation, general permission, supplement

Compare: 2004 No 35 s DN 5

Section DN 5(2) heading: amended (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 14(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).

Section DN 5(2): amended (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 14(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).

Section DN 5 list of defined terms attributable FIF income method: inserted (with effect on 1 July 2011), on 7 May 2012, by section 14(2)(b) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).

Section DN 5 list of defined terms branch equivalent method: repealed (with effect on 1 July 2011), on 7 May 2012, by section 14(2)(a) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).