Income Tax Assessment Act 1936

Pt X inserted by No 5 of 1991.

S 400 substituted by No 101 of 2013, s 3 and Sch 2 item 18, applicable: (a) in respect of tax other than withholding tax - in relation to income years starting on or after the date mentioned in subsection 815-15(2) of the Income Tax (Transitional Provisions) Act 1997 , as inserted; and (b) in respect of withholding tax - in relation to income derived, or taken to be derived, in income years starting on or after that date. S 400 formerly read:

SECTION 400 MODIFIED APPLICATION OF DIVISION 13 OF PART III  
400
In calculating the attributable income of the eligible CFC:

(a) for the purposes of section 136AC, the eligible CFC is to be treated as a resident or a non-resident, within the meaning of that section, without regard to the residency assumption; and

(aa) for the purposes of Division 13 of Part III, an agreement is not an international agreement if, at all times when the agreement was in force, all of the parties to the agreement were CFCs and were residents of the same listed country; and

(b) section 136AF applies as if:

(i) the reference in subsection 136AF(1) to the application of section 136AD in relation to a taxpayer were a reference both to:

(A) the application of that section in relation to any CFC in calculating its attributable income or in relation to any trust estate in calculating its attributable income under Division 6AAA of Part III; and

(B) the actual application of that section in relation to any taxpayer in calculating the taxable income of the taxpayer apart from this Part; and

(ii) the references in paragraphs 136AF(1)(a) and (b) to assessable income or allowable deductions in relation to the relevant taxpayer were references to notional assessable income or notional allowable deductions in relation to the eligible CFC.

S 400 amended by No 96 of 2004 and No 155 of 1997 and inserted by No 5 of 1991.