Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)
Schedule 1 New foreign income tax offset rules
Part 4 Consequential and other amendments
Income Tax Assessment Act 1936
58 At the end of section 121EH
Add:
; and (e) subsection 121EG(3A) (which limits the OBU's foreign income tax) does not apply to the OBU in relation to an amount of foreign income tax (within the meaning of the Income Tax Assessment Act 1997) the OBU paid in respect of an amount of the OBU's assessable OB income of the year of income.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
