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

Schedule 1   Foreign source income

Part 1   General amendments

Income Tax Assessment Act 1936

2   Paragraph 23AH(6)(f)

Repeal the paragraph, substitute:

(f) if the listed country is a broad-exemption listed country - that gain or profit is not eligible designated concession income in relation to any broad-exemption listed country in relation to the disposal year of income;

(fa) if the listed country is a limited-exemption listed country - that gain or profit is not adjusted tainted income of the permanent establishment (as defined by subsection (10A)) in relation to the disposal year of income;