Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)

Schedule 2   Consequential amendments relating to Schedule 1 repeals etc.

Part 1   Amendments: general

Income Tax Assessment Act 1936

188   Subsection 26AG(8)

Repeal the subsection, substitute:

(8) If:

(a) a non-resident taxpayer derives, from sources outside Australia, income in respect of a film; and

(b) but for this subsection, subsection (2) would include the amount in the taxpayer's assessable income of a year of income;

that subsection does not include in the taxpayer's assessable income so much of the amount as:

(c) is attributable to the exhibition of the film in the country from sources in which the income was derived; and

(d) is not exempt from income tax in the country from sources in which the income was derived.