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S EX 52(2) appears to calculate FDR income on a line by line
basis rather than a pooled basis. Although S EX 52(2) refers to
\"total FIF income\" and ättributing interests\", it only refers
to \"the FIF\" rather than all FIFs. This can be contrasted
with S EX 44C(1) of the Income Tax Act 2004 where the FDR
calculation is clearly on a pooled basis.
Give examples: FIF interest X bought for $1000 and sold
within year for $700. FIF interest Y bought for $2000 and sold
for $2100 within the year.
FDR Calculations applying S EX 52:
Peak Holding Adjustment
FIF X = $1,000 x 5% = $50
FIF Y = $2,000 x 5% = $100
Quick Sale Gain
FIF X = $700 - $1,000 = $300 Loss
FIF Y = $2,100 - $2,000 = $100 Gain
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