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

Schedule 3   Tainted services income

Part 1   Amendments

Income Tax Assessment Act 1936

1   Paragraph 448(1)(a)

Repeal the paragraph, substitute:

(a) income (other than premium income) from the provision of services by the company to an entity, if:

(i) the entity was a Part X Australian resident at the time the income was derived; and

(ii) the services were not provided in connection with a business carried on by the entity at that time at or through a permanent establishment of the entity in a listed or unlisted country;