Taxation Laws Amendment Act (No. 3) 1999 (11 of 1999)
Schedule 2 Measures to deal with abuse of foreign tax credits
Income Tax Assessment Act 1936
11 After paragraph 177F(1)(c)
Insert:
(d) in the case of a tax benefit that is referable to a foreign tax credit, or a part of a foreign tax credit, being allowable to the taxpayer - determine that the whole or a part of the foreign tax credit, or the part of the foreign tax credit, as the case may be, is not to be allowable to the taxpayer;