• What branch capital gains are non-assessable non-exempt income?

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    Permanent establishment in a listed country

    A resident company includes in the calculation of its net capital gains any capital gain or capital loss as a result of a CGT event happening in relation to a tainted asset that is used in carrying on a business through a permanent establishment in a listed country if:

    • the gain is also eligible designated concession income, or
    • there is a loss but there would have been eligible designated concession income if the loss had instead been a gain.

    Permanent establishment in an unlisted country

    A resident company includes in the calculation of its net capital gains any capital gain or capital loss arising as a result of a CGT event happening in relation to a tainted asset that is used in carrying on a business through a permanent establishment in an unlisted country.

    Last modified: 05 Dec 2006QC 18000