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 840
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Withholding taxes
Subdivision 840-M
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Managed investment trust withholding tax
Operative provisions
SECTION 840-815 Certain income is non-assessable non-exempt income 840-815(1)
An amount on which * managed investment trust withholding tax is payable is not assessable income and is not * exempt income of an entity.
840-815(2)
Subsection (1) does not apply to an Australian resident to the extent that:
(a) *managed investment trust withholding tax is payable on the amount because of subsection 840-805(4D) ; and
(b) the Australian resident is entitled, directly or indirectly, to the amount.
View history note
Hide history noteSECTION 840-815 Certain income is non-assessable non-exempt income 840-815(1)
An amount on which * managed investment trust withholding tax is payable is not assessable income and is not * exempt income of an entity.
840-815(2)
Subsection (1) does not apply to an Australian resident to the extent that:
(a) *managed investment trust withholding tax is payable on the amount because of subsection 840-805(4D) ; and
(b) the Australian resident is entitled, directly or indirectly, to the amount.
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