Income Tax Regulations 1936 (Repealed)

PART 8A - FOREIGN INCOME  

Division 2 - Controlled foreign companies  

REGULATION 152B   INCOME OR PROFITS AS DESIGNATED CONCESSION INCOME  

152B(1)   [ Interpretation]  

For the definition of designated concession income in section 317 of the Act, if:

(a) a listed country is mentioned in column 2 of an item in Part 2 of Schedule 9 ; and

(b) an entity mentioned in column 3 of the item derived income or profits that are:

(i) of a kind specified in column 4 of the item; and

(ii) further described in column 5 of the item;

the income or profits are designated concession income.

152B(2)   [ " income or profits " ]  

For subregulation (1), the income or profits of an entity include:

(a) the entity's interest in the income or profits of a partnership in which the entity is a partner; and

(b) the entity's beneficial interest in the income or profits of a trust estate in which the entity is a beneficiary.