Chapter 4 inserted by No 162 of 2001.

Part 4-5 inserted by No 162 of 2001.

Division 820 inserted by No 162 of 2001.

Subdiv 820-FB (heading) substituted by No 64 of 2005.

Subdiv 820-FB inserted by No 117 of 2002. For application provision see Div 820 of the Income Tax (Transitional Provisions) Act 1997 .

S 820-609(1) amended by No 23 of 2024, s 3 and Sch 2 item 89, by substituting para (b), effective 1 July 2024. For application provisions, see note under s 705-60 . Para (b) formerly read:

(b) apart from this Subdivision, the head company or single company would be:

(i) an *outward investing entity (non-ADI) and an *outward investor (financial) for the trial period; or

(ii) an *outward investing entity (non-ADI) and an *outward investor (general) for the trial period;

and at least one of the *Australian permanent establishments is a *permanent establishment through which a *foreign bank carries on banking *business in Australia.

S 820-609(2) amended by No 164 of 2007 , s 3 and Sch 3 item 3, by substituting para (a), applicable to income years starting on or after 1 January 2004. Para (a) formerly read:

(a) the head company would satisfy subsection 820-585(2) for the trial period (triggering the exemption in section 820-585 ); or

S 820-609(4) amended by No 23 of 2024, s 3 and Sch 2 item 90, by substituting " *inward investment vehicle (financial), and not an *outward investing financial entity (non-ADI), " for " *inward investment vehicle (general) or an *inward investment vehicle (financial), and not an *outward investor (general) or an *outward investor (financial), " in para (a), effective 1 July 2024. For application provisions, see note under s 705-60 .

S 820-609(5) substituted by No 23 of 2024, s 3 and Sch 2 item 91, effective 1 July 2024. For application provisions, see note under s 705-60 . S 820-609(5) formerly read:

820-609(5)
The *head company or single company is an outward investing entity (non-ADI) and an outward investor (financial) for the trial period if, apart from this Subdivision, it would be an *outward investing entity (non-ADI) and:
(a) an *outward investor (financial); or
(b) an *outward investor (general);

for that period, and:

(c) at least one of the *Australian permanent establishments is a *permanent establishment of a *foreign entity that is a *financial entity; and
(d) none of the Australian permanent establishments is a permanent establishment through which a *foreign bank carries on banking *business in Australia.

S 820-609(6) substituted by No 23 of 2024, s 3 and Sch 2 item 91, effective 1 July 2024. For application provisions, see note under s 705-60 . S 820-609(6) formerly read:

820-609(6)
The *head company or single company is an inward investing entity (non-ADI) and an inward investment vehicle (financial) for the trial period if, apart from this Subdivision, it would be an *inward investing entity (non-ADI) and:
(a) an *inward investment vehicle (financial); or
(b) an *inward investment vehicle (general);

for that period and not an *outward investor (general) or an *outward investor (financial) for that period and:

(c) at least one of the *Australian permanent establishments is a *permanent establishment of a *foreign entity that is a *financial entity; and
(d) none of the Australian permanent establishments is a permanent establishment through which a *foreign bank carries on banking *business in Australia.

S 820-609(7) amended by No 23 of 2024, s 3 and Sch 2 item 92, by substituting " investing financial entity (non-ADI) " for " investor (financial) " in the note, effective 1 July 2024. For application provisions, see note under s 705-60 .

S 820-609(7) amended by No 164 of 2007 , s 3 and Sch 3 item 4, by inserting " and section 820-610 " at the end, applicable to income years starting on or after 1 January 2004.

S 820-609 substituted by No 64 of 2005.

S 820-609 inserted by No 117 of 2002. For application provision see Div 820 of the Income Tax (Transitional Provisions) Act 1997 .