INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 7 - Calculation of attributable income of CFC  

Subdivision B - General modifications of Australian tax law  

SECTION 396   MODIFIED APPLICATION OF SECTIONS 25A AND 52  

396(2)   [References to non-taxable Australian asset]  

A reference in subsection (1) to a non-taxable Australian asset is a reference to:


(a) an asset other than a taxable Australian asset (within the meaning of Part IIIA of this Act); or


(b) a CGT asset other than one that has the necessary connection with Australia (within the meaning of the Income Tax Assessment Act 1997 ).

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