Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)

Schedule 2   Foreign dividends

Part 3   Consequential amendments

Income Tax Assessment Act 1997

21   Paragraphs 230-335(4)(a) and (b)

Repeal the paragraphs, substitute:

(a) the *financial arrangement hedges a foreign currency risk in relation to an anticipated *foreign equity distribution from a *connected entity; and

(b) the distribution is *non-assessable non-exempt income under section 768-5.