INCOME TAX ASSESSMENT ACT 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 1 - Preliminary  

SECTION 332   COMPANIES THAT ARE RESIDENTS OF LISTED COUNTRIES  

332(1)   [Status is determined by subsection (2) only]  

For the purposes of this Part, a company is a resident of a listed country at a particular time if, and only if, the company is, in accordance with subsection (2), a resident of a particular listed country at that time.

332(2)   [Conditions must be satisfied]  

For the purposes of this Part, a company is a resident of a particular listed country at a particular time if, and only if, both of the following conditions are satisfied at that time:


(a) the company is not a Part X Australian resident;


(b) the company is treated as a resident of the listed country for the purposes of the tax law of the listed country.


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