Income Tax Regulations 1936 (Repealed)

PART 8A - FOREIGN INCOME  

Division 2 - Controlled foreign companies  

REGULATION 152D   CAPITAL GAINS REGARDED AS SUBJECT TO TAX  

152D(1)    
In this regulation:

capital gains
means gains or profits or other amounts of a capital nature.

roll-over relief
, in relation to a particular tax accounting period in relation to a listed country, means the deferral of tax liability in the tax accounting period under a tax law of the listed country because of a circumstance specified in regulation 152E .

152D(2)    
For section 324 of the Act, if:

(a) capital gains that are derived by an entity are not subject to tax in a listed country in a particular tax accounting period; and

(b) apart from the availability of roll-over relief, the capital gains would have been subject to tax in the listed country in the tax accounting period;

the capital gains are to be treated as if they were subject to tax in the listed country in the tax accounting period.