Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act 2013 (101 of 2013)

Schedule 2   Modernisation of transfer pricing rules

Part 2   Other amendments

Income Tax Assessment Act 1997

35   Subparagraph 842-250(1)(c)(ii)

Repeal the subparagraph, substitute:

(ii) in respect of a fund that is resident in a country that has not entered into an international tax agreement with Australia containing a business profits article - amounts included in the assessable income of the fund are treated as having a source in Australia because of subsection 815-230(1); or