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 3   Non-portfolio dividend exemption: consequential amendments

Income Tax Assessment Act 1936

16   Subparagraphs 47A(2)(a)(ii), (iii) and (iv)

Repeal the subparagraphs, substitute:

(ii) by virtue of subsection (1), the whole or a part of the distribution payment would, apart from section 23AI or 23AJ, be included in the assessable income of a taxpayer of the year of income in which the distribution time occurred under section 44; and