New International Tax Arrangements (Managed Funds and Other Measures) Act 2005 (21 of 2005)

Schedule 1   CGT and foreign residents

Income Tax Assessment Act 1997

4   At the end of section 104-70

Add:

(9) CGT event E4 does not happen for a payment made to a foreign resident to the extent that the payment is reasonably attributable to *ordinary income or *statutory income from sources other than an *Australian source. However, this exception does not apply if the trust is a *corporate unit trust or a *public trading trust.