INCOME TAX REGULATIONS 1936 [ REPEALED]

PART 8A - FOREIGN INCOME  

Division 1 - General  

REGULATION 152A   INTERPRETATION  

152A(1)  
In this Part, unless the contrary intention appears, words and phrases have the same meanings as they have in Part X of the Act.

152A(2)  
In this Part, unless the contrary intention appears:

CGT asset
has the meaning given by section 108-5 of the Income Tax Assessment Act 1997 .

"compulsory acquisition"
, in relation to a CGT asset, means the compulsory acquisition of that asset by:


(a) the government of a country, whether a federal, State or municipal government (however described); or


(b) an authority of such a government.

"concessional rate of tax"
(Repealed by SR No 115 of 2004)

"interest income"
(Repealed by SR No 115 of 2004)

"normal company tax rate"
(Repealed by SR No 115 of 2004)

"offshore banking business"
(Repealed by SR No 115 of 2004)

"offshore financial business"
(Repealed by SR No 115 of 2004)

"offshore income"
(Repealed by SR No 115 of 2004)

"offshore insurance business"
(Repealed by SR No 115 of 2004)

"offshore investment business"
(Repealed by SR No 115 of 2004)

"offshore reinsurance business"
(Repealed by SR No 115 of 2004)

"permanent establishment"
, in relation to an entity that carries on business in a listed country:


(a) if there is a double tax agreement in relation to the country and section 23AH of the Act applies to the entity - has the same meaning as in the agreement; or


(b) in any other case - has the meaning given by subsection 6(1) of the Act;

"relevant broad-exemption listed country"
(Repealed by SR No 115 of 2004)

"relevant period"
(Repealed by SR No 115 of 2004)

"relevant tax accounting period"
(Repealed by SR No 115 of 2004)

"shipping income"
(Repealed by SR No 115 of 2004)

wholly-owned group
has the meaning given by section 975-500 of the Income Tax Assessment Act 1997 .

152A(3)  
In this Part (other than in regulation 152D ):

capital gains
means gains or profits of a capital nature that arise from the sale or disposal of all or part of a CGT asset, other than gains or profits that would not be capital gains but for a provision of Australian tax law.

152A(4)  
In this Part:

passive income
means passive income described in section 446 of the Act, subject to the following modifications:


(a) omit paragraph 446(1)(k) and insert the following paragraph:


' (k) capital gains in respect of tainted assets; ' ;


(b) if it is necessary to identify the designated concession income of an entity to which Division 6AAA of Part III of the Act applies, as part of using Schedule 9 :


(i) read each reference, as appropriate, in Part X to a company as a reference to the entity; and

(ii) read each reference, as appropriate, in Part X to a statutory accounting period as a reference to a year of income;


(c) if it is necessary to identify the designated concession income of an entity to which section 23AH of Part III of the Act applies, as part of using Schedule 9 , read each reference, as appropriate, in Part X to a statutory accounting period as a reference to a year of income.


 

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