Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 207 - Effect of receiving a franked distribution  

Subdivision 207-C - Residency requirements for the general rule  

Operative provisions

SECTION 207-75   Residency requirement  

207-75(1)    
An entity that receives a *distribution satisfies the residency requirement at the time the distribution is made if:

(a) in the case of an individual - the individual is an Australian resident at that time; and

(b) in the case of a company - the company is an Australian resident at that time; and

(c) in the case of a *corporate limited partnership - the corporate limited partnership is an Australian resident at that time; and

(d) (Repealed by No 53 of 2016)

(e) in the case of a *public trading trust - the public trading trust is a resident unit trust for the income year in which that time occurs.

207-75(2)    
An entity that receives a *distribution also satisfies the residency requirement at the time the distribution is made if the entity at that time:

(a) is a company or an individual; and

(b) is a foreign resident; and

(c) carries on business in Australia at or through a permanent establishment of the entity in Australia, being a permanent establishment within the meaning of:

(i) a double tax agreement (as defined in Part X of the Income Tax Assessment Act 1936 ) that relates to a foreign country and affects the entity; or

(ii) subsection 6(1) of that Act, if there is no such agreement;

and the distribution is attributable to the permanent establishment.