New International Tax Arrangements (Participation Exemption and Other Measures) Act 2004 (96 of 2004)

Schedule 2   Foreign branch income, non-portfolio dividends and listed countries

Part 7   Transitional

141   Transitional

From 1 July 2004 until regulations are made after the commencement of this item declaring foreign countries or parts of foreign countries to be listed countries or section 404 countries for the purposes of Part X of the Income Tax Assessment Act 1936, that Act has effect as if:

(a) each foreign country or part of a foreign country that, immediately before the commencement of this item, was a broad-exemption listed country for the purposes of that Part of that Act were a listed country for the purposes of that Part of that Act; and

(b) each foreign country or part of a foreign country that, immediately before the commencement of this item, was a limited-exemption listed country for the purposes of that Part of that Act were a section 404 country for the purposes of that Part of that Act.