Petroleum (Timor Sea Treaty) (Consequential Amendments) Act 2003 (10 of 2003)

Schedule 1   Consequential amendments

Part 1   Amendments

Income Tax Assessment Act 1936

42   Paragraph 136AE(4)(a)

Repeal the paragraph, substitute:

(a) a taxpayer (other than a partnership or trustee):

(i) is a resident and carries on a business in a country other than Australia at or through a permanent establishment of the taxpayer in that other country; or

(ii) is a resident and carries on a business in an area covered by an international tax sharing treaty; or

(iii) is a non-resident and carries on a business in Australia at or through a permanent establishment of the taxpayer in Australia; or

(iv) is a non-resident and carries on a business in an area covered by an international tax sharing treaty and also carries on a business somewhere else in Australia at or through a permanent establishment of the taxpayer in Australia; and