Section 2 - Credits available only to resident companies

Australian resident companies are entitled to a foreign tax credit as worked out in section 1. In addition, in some circumstances a company - other than a company in the capacity of trustee - may be:

• entitled to a credit for tax paid by a CFC on amounts attributed to the Australian company
• not assessable on foreign non-portfolio dividends- see part 1 of this chapter, or
• not assessable on foreign income derived through a foreign branch - see part 2 of this chapter.