Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 802.5

What this Subdivision is about

A distribution that an Australian corporate tax entity makes to a foreign resident is not subject to dividend withholding tax, and is not assessable income, to the extent that the entity declares it to be conduit foreign income.

An Australian corporate tax entity has an amount that is non - assessable non - exempt income if it receives a distribution including conduit foreign income from another such entity and it makes a distribution including conduit foreign income.

This Subdivision sets out the method of working out an entity's conduit foreign income.

It also discourages streaming of distributions to entities that can take advantage of the receipt of conduit foreign income.

Table of sections

Operative provisions

802 - 10   Objects

802 - 15   Foreign residents--exempting CFI from Australian tax

802 - 17   Trust estates and foreign resident beneficiaries--exempting CFI from Australian tax

802 - 20   Distributions between Australian corporate tax entities--non - assessable non - exempt income

802 - 25   Conduit foreign income of an Australian corporate tax entity

802 - 30   Foreign source income amounts

802 - 35   Capital gains and losses

802 - 40   Effect of foreign income tax offset on conduit foreign income

802 - 45   Previous declarations of conduit foreign income

802 - 50   Receipt of an unfranked distribution from another Australian corporate tax entity

802 - 55   No double benefits

802 - 60   No streaming of distributions


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