Income Tax Amendment Regulations 2004 (No. 5)

(248 of 2004)

5 August 2004

Income Tax Assessment Act 1936

1   Name of Regulations

These Regulations are the Income Tax Amendment Regulations 2004 (No. 5).

2   Commencement

These Regulations commence on the date of their notification in the Gazette.

3   Amendment of Income Tax Regulations 1936

Schedule 1 amends the Income Tax Regulations 1936.

Schedule 1   Amendments

[1]   Subregulation 152A (2), definition of permanent establishment

omit

broad-exemption

[2]   Regulation 152C

substitute

152C Listed countries and section 404 countries

(1) For the definition of listed country in subsection 320 (1) of the Act, a foreign country or a part of a foreign country listed in Part 1 of Schedule 10 is declared to be a listed country for the purposes of Part X of the Act.

(2) For the definition of section 404 country in subsection 320 (1) of the Act, a foreign country or a part of a foreign country listed in Part 2 of Schedule 10 is declared to be a section 404 country for the purposes of Part X of the Act.

[3]   Schedule 10, heading

substitute

Schedule 10 Listed countries and section 404 countries

(regulation 152C)

[4]   Schedule 10, Part 1, heading

substitute

Part 1 Listed countries

[5]   Schedule 10, Part 2, heading

substitute

Part 2 Section 404 countries