Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)
Schedule 3 Foreign resident CGT integrity measures
Part 2 Assets used by permanent establishments
Income Tax Assessment Act 1997
6 Section 855-15 (cell at table item 3, column headed "Description")
Repeal the cell, substitute:
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A *CGT asset that: (a) you have used at any time in carrying on a *business through: (i) if you are a resident in a country that has entered into an *international tax agreement with Australia containing a *permanent establishment article - a permanent establishment (within the meaning of the relevant international tax agreement) in Australia; or (ii) otherwise - a *permanent establishment in Australia; and (b) is not covered by item 1, 2 or 5 of this table |
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