Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 768.7

  (1)   This section applies to a * foreign equity distribution if:

  (a)   all or part of the distribution gives rise to a * foreign income tax deduction; and

  (b)   the exception in subsection   (2) does not apply to the distribution.

Exception for foreign corporate collective investment vehicles

  (2)   This subsection applies to a * foreign equity distribution if:

  (a)   the * foreign income tax deduction arises because the company that made the distribution is recognised under the law of the foreign country in which the deduction arises as being used for collective investment; and

  (b)   * foreign income tax or a withholding - type tax was payable in respect of the distribution.