What income is non-assessable non-exempt?



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Whether branch profits are treated as non-assessable non-exempt income depends on whether the branch is in a broad-exemption or limited-exemption listed country. If you are applying the exemption for amounts derived by a branch before 1 July 1997, treat countries on the former list of comparable tax countries - refer to attachment A of appendix 1 - as broad-exemption listed countries. Branches in other countries were not eligible for the exemption.

Last modified: 05 Dec 2006QC 17522