Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 2   Foreign residents' income with an underlying foreign source

Part 2   Other amendments

Income Tax Assessment Act 1997

17   Subsection 995-1(1)

Insert:

Australian corporate tax entity : an entity is an Australian corporate tax entity at a particular time if the entity is:

(a) a *corporate tax entity at that time; and

(b) for a company or a *corporate limited partnership - an Australian resident at that time; and

(c) for a *corporate unit trust or a *public trading trust - a *resident unit trust for the income year in which that time occurs.