Taxation Laws Amendment Act (No. 3) 1994 (138 of 1994)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 3   Amendments relating to foreign investment funds and controlled foreign companies

Sub-Division K   Removal of differences between exemption under section 523 and exemption under section 511

38   Exemption

 

(1) Section 523 of the Principal Act is amended by adding at the end of sub-subparagraph (b)(ii)(C) "or by a wholly-owned subsidiary of the company that was principally engaged in carrying on the business of providing those services through directors or employees of that subsidiary".
            

      

(2) Section 523 of the Principal Act is amended by omitting from sub-subparagraph (b)(ii)(D) "or by a wholly-owned subsidiary of the company that was principally engaged in carrying on the business of providing those services through directors or employees of that subsidiary".