Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

View history reference

 View history note

 Hide history note

History

Chapter 4 inserted by No 162 of 2001.

PART 4-5 - GENERAL  

View history reference

 View history note

 Hide history note

History

Part 4-5 inserted by No 162 of 2001.

Division 768 - Foreign non-assessable income and gains  

View history reference

 View history note

 Hide history note

History

Div 768 heading substituted by No 110 of 2014, s 3 and Sch 2 item 3, applicable to distributions and non-share dividends made after 16 October 2014. Div 768 heading formerly read:

Division 768 - Exempt foreign income and gains

Div 768 inserted by No 96 of 2004.

Subdivision 768-G - Reduction in capital gains and losses arising from CGT events in relation to certain voting interests in active foreign companies  

View history reference

 View history note

 Hide history note

History

Subdiv 768-G heading substituted by No 168 of 2006 .

Subdiv 768-G inserted by No 96 of 2004.

SECTION 768-500   What this Subdivision is about  

View history reference

If:

(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;

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.

 View history note

 Hide history note

History

S 768-500 inserted by No 96 of 2004.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.