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 802-15   Foreign residents - exempting CFI from Australian tax  

802-15(1)  
So much of the *unfranked part of a *frankable distribution made by an *Australian corporate tax entity that the entity declares, in its *distribution statement, to be *conduit foreign income:


(a) is not assessable income and is not *exempt income of a foreign resident; and


(b) is an amount to which section 128B (Liability to withholding tax) of the Income Tax Assessment Act 1936 does not apply.

802-15(2)  
The declaration must be made on or before the day on which the *distribution is made.

Note:

For a private company, this rule may bring forward the time at which the company is required to make its distribution statement: see section 202-75 .


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