Income Tax Assessment Amendment (Foreign Investment) Act 1992 (190 of 1992)

14   Passive income

Section 160AEA of the Principal Act is amended:

(a) by inserting "26D," in paragraph (1)(n) before "102AAZD";
        

(b) by omitting from paragraph (1)(n) "or 459A" and substituting ", 459A or 529";
        

(c) by omitting from subsection (1) "but does not include offshore banking income." and substituting:
        

"but does not include:

(o) offshore banking income; or

(p) an amount that arose from an asset necessarily held by the taxpayer in connection with an insurance business actively carried on by the taxpayer.".