Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Bill

  • enacted
15 New section CV 19 inserted (Additional income for certain imputation credits)
  • After section CV 18, insert:

    CV 19 Additional income for certain imputation credits
    • When this section applies

      (1) This section applies when a person has assessable income for the purposes of section LE 1 (Tax credits for imputation credits) because section LE 1(4B) applies (the LE 1(4B) income), and the LE 1(4B) income includes an imputation credit.

      Income

      (2) For the income year to which the LE 1(4B) income relates, the person derives an amount of income equal to the amount of the tax credit for the imputation credit under section LE 8B (Dividends from certain FIF interests).

      Defined in this Act: assessable income, imputation credit, income, income year, tax credit.