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 802-40   802-40   Effect of foreign income tax offset on conduit foreign income  


The entity ' s conduit foreign income includes an amount if a tax offset arose for the entity under Division 770 for the income year immediately before the one in which the relevant time occurs. The amount is worked out using the formula:


Offset ×   (1 - *Corporate tax rate)
      *Corporate tax rate


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