Income Tax Assessment Act 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 1 - Preliminary  

SECTION 333   COMPANIES THAT ARE RESIDENTS OF UNLISTED COUNTRIES  

333(1)   [Residence in unlisted country]  

For the purposes of this Part, a company is a resident of an unlisted country at a particular time if, and only if:

(a) the company is, in accordance with subsection (2), a resident of a particular unlisted country at that time; or

(b) paragraph (a) does not apply and the company is at that time neither:

(i) a Part X Australian resident; nor

(ii) a resident of a particular listed country.

333(2)   [Particular unlisted country]  

For the purposes of this Part, a company is a resident of a particular unlisted country (in this section called the unlisted country of residence ) at a particular time if, and only if:

(a) the company is not a Part X Australian resident at that time; and

(b) the company is not treated as a resident of a listed country at that time for the purposes of the tax law of the listed country; and

(c) any of the following subparagraphs applies:

(i) both of the following conditions are satisfied at that time:

(A) the company is treated as a resident of the unlisted country of residence for the purposes of the tax law of the unlisted country of residence;

(B) the company is not treated as a resident of any other unlisted country for the purposes of the tax law of the unlisted country;

(ii) both of the following conditions are satisfied at that time:

(A) the company is treated as a resident of the unlisted country of residence and at least one other unlisted country for the purposes of the tax laws of each of those unlisted countries;

(B) the company is incorporated in the unlisted country of residence;

(iii) both of the following conditions are satisfied at that time:

(A) the company is not treated as a resident of any unlisted country for the purposes of the tax law of the unlisted country;

(B) the company's management and control is solely or principally located in the unlisted country of residence;

(iv) all of the following conditions are satisfied at that time:

(A) the company is not treated as a resident of any unlisted country for the purposes of the tax law of the unlisted country;

(B) the company's management and control is not solely or principally located in the unlisted country of residence;

(C) the company is incorporated in the unlisted country of residence.