Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (27 of 2017)

Schedule 1   Diverted profits tax

Income Tax Assessment Act 1997

35   Subsection 219-15(2) (at the end of the table)



the company *pays diverted profits tax; and

the company satisfies the *residency requirement for the income year for which the tax is paid; and

the company is a *franking entity for the whole or part of that income year

that part of the payment that is attributable to:

(a) the *shareholders' share of the income tax liability of the company for that income year; and

(b) the period during which the company was a franking entity;

multiplied by the proportion worked out under subsection (4)

on the day on which the payment is made