Taxation Laws Amendment (Foreign Income Measures) Act 1997 (155 of 1997)

Schedule 1   Foreign source income

Part 1   General amendments

Income Tax Assessment Act 1936

1   Paragraph 23AH(1)(c)

Repeal the paragraph, substitute:

(c) if the listed country is a broad-exemption listed country - the foreign income is not eligible designated concession income in relation to any broad-exemption listed country in relation to the year of income;

(ca) if the listed country is a limited-exemption listed country - either:

(i) the foreign income is not adjusted tainted income of the permanent establishment (as defined by subsection (10A)) in relation to the year of income; or

(ii) the permanent establishment passes the active income test (as defined by subsection (10B)) in relation to the year of income;