New International Tax Arrangements (Participation Exemption and Other Measures) Act 2004 (96 of 2004)

Schedule 2   Foreign branch income, non-portfolio dividends and listed countries

Part 5   Listed countries: consequential amendments

Income Tax Assessment Act 1936

104   Subsection 102AAU(6) (formula)

Repeal the formula, substitute:

Taxed amount * (Listed country trust amount / Net income)