Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 802 - Foreign residents ' income with an underlying foreign source  

Subdivision 802-A - Conduit foreign income  

Operative provisions

SECTION 802-50   Receipt of an unfranked distribution from another Australian corporate tax entity  

802-50(1)  
The entity ' s conduit foreign income is reduced if:


(a) the entity (the receiving entity ) receives from another *Australian corporate tax entity a *frankable distribution that has an *unfranked part; and


(b) the *distribution statement for the *distribution declares an amount (the declared amount ) of the unfranked part to be conduit foreign income; and


(c) some or all of the declared amount is not *non-assessable non-exempt income under section 802-20 .

802-50(2)  
The amount of the reduction is the amount that is not *non-assessable non-exempt income under section 802-20 less any expenses reasonably related to that amount.


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