Taxation Laws Amendment Act (No. 2) 1993 (18 of 1993)

PART 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 7   Amendments relating to foreign investment

Subdivision G   Exempt non-portfolio dividends received by CFC

40   Reduction of foreign investment fund income because of interim dividend or interim distribution of trust income

Section 530 of the Principal Act is amended by omitting paragraph (1) (d) and substituting the following paragraph:

"(d) is a non-portfolio dividend (as defined in section 317) that is:

(i) exempt from income tax under section 23AJ; or

(ii) notional exempt income of the taxpayer under paragraph 402 (2) (c) or 403 (b) or section 404;".