Income Tax Assessment Act 1997
CHAPTER 4
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INTERNATIONAL ASPECTS OF INCOME TAX
PART 4-5
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GENERAL
Division 768
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Foreign non-assessable income and gains
Subdivision 768-G
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Reduction in capital gains and losses arising from CGT events in relation to certain voting interests in active foreign companies
SECTION 768-500
What this Subdivision is about
(a) a company has a capital gain or capital loss arising from a CGT event that happens in relation to a share in a foreign company; and
(b) the company holds a direct voting percentage of 10% or more in the foreign company for a certain period before the CGT event happens;
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the gain or loss is reduced by a percentage that reflects the degree to which the assets of the foreign company are used in an active business.
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