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

Schedule 3   Tainted services income

Part 1   Amendments

Income Tax Assessment Act 1936

7   Subparagraph 450(6)(c)(i)

Repeal the subparagraph, substitute:

(i) the entity was a Part X Australian resident, and the acquisition or disposal was not in connection with a business carried on by the entity at or through a permanent establishment of the entity in a listed or unlisted country;