Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)
Schedule 2 Foreign residents' income with an underlying foreign source
Part 2 Other amendments
Income Tax Assessment Act 1936
3 At the end of subsection 44(1)
Add:
Note 2: An amount declared to be conduit foreign income is not included in assessable income under paragraph (1)(b) or (c): see section 802-15 of the Income Tax Assessment Act 1997.
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