Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (27 of 2017)
Schedule 1 Diverted profits tax
Income Tax Assessment Act 1997
14 Subsection 205-15(1) (at the end of the table)
Add:
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8 |
the entity *pays diverted profits tax; and the entity satisfies the *residency requirement for the income year for which the tax is paid; and the entity is a *franking entity for the whole or part of that income year |
that part of the payment that is attributable to the period during which the entity was a franking entity, multiplied by the proportion worked out under subsection (5) |
on the day on which the payment is made |