(a) you are entitled to a * tax offset under Subdivision 770-A for an income year for * foreign income tax; and
(b) the foreign income tax is payable on income you earned as an employee in relation to * transitioned petroleum activities undertaken, or to be undertaken, in relation to the * JPDA;
the amount of the offset is to be worked out in accordance with the Taxation Code in Annex G under Article 13(b) of the Treaty (within the meaning of that Act), as if that Taxation Code applied in relation to the income.
(2) Subdivision 770-B does not apply in relation to the amount of the offset.
Table of sections
417-140 Transfer pricing benefits relating to transitioned petroleum activities