Tax Laws Amendment (Foreign Source Income Deferral) Act (No. 1) 2010 (114 of 2010)
Schedule 1 Repeal of the FIF and deemed present entitlement rules
Part 1 Main amendments
Income Tax Assessment Act 1997
49 Subsection 230-460(12)
Repeal the subsection, substitute:
Interest in controlled foreign companies
(12) A right or obligation that arises under a *direct participation interest of an *attributable taxpayer in a *controlled foreign company is the subject of an exception.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).