Taxation Laws Amendment (Foreign Income Measures) Act 1997 (155 of 1997)

Schedule 1   Foreign source income

Part 5   Application and transitional

123   Application of amendments - Division 6AAA of Part III of the Income Tax Assessment Act 1936

 

(1) The amendments of Subdivision B of Division 6AAA of Part III of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to a distributed amount of a trust estate's non-resident year of income beginning on or after 1 July 1997.

      

(2) The amendments of Subdivision A of Division 6AAA of Part III and Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to Subdivision B of Division 6AAA of Part III of that Act, apply in relation to a distributed amount of a trust estate's non-resident year of income beginning on or after 1 July 1997.

      

(3) The amendments of Subdivision D of Division 6AAA of Part III of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to the calculation of the attributable income of a non-resident trust estate of a year of income beginning on or after 1 July 1997.

      

(4) The amendments of Subdivision A of Division 6AAA of Part III and Division 1 of Part X of the Income Tax Assessment Act 1936, in so far as they are relevant to Subdivision D of Division 6AAA of Part III of that Act, apply in relation to the calculation of the attributable income of a non-resident trust estate of a year of income beginning on or after 1 July 1997.

      

(5) For the purposes of this item, in determining the beginning of a year of income of a trust estate, subsection 6(2) of the Income Tax Assessment Act 1936 is to be disregarded.