Tax Law Improvement Act 1997 (121 of 1997)

Schedule 4   Deductions

Part 2   Consequential amendment of the Income Tax Assessment Act 1997

41   Subsection 995-1(1)

Insert:

agent of an entity (the principal ) includes:

(a) if the principal is outside Australia - an entity that, in Australia, and for or on behalf of the principal, holds money of the principal or has control, receipt or disposal of money of the principal; and

(b) an entity declared by the Commissioner (in writing) to be the principal’s agent or sole agent for specified purposes of this Act.