Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 880.100

This Subdivision provides a tax exemption for certain sovereign entities in respect of certain returns on membership interests (etc.) in entities that are Australian resident companies or managed investment trusts. To obtain this exemption, the relevant sovereign entity group can hold only a portfolio interest in the entity, and cannot have relevant influence over the entity.

Table of sections

Operative provisions

880 - 105   Sovereign entity's income from membership interest etc. in trust or company--non - assessable non - exempt income

880 - 110   Sovereign entity's deduction from membership interest etc.--loss not deductible

880 - 115   Sovereign entity's capital gain from membership interest etc.--gain disregarded

880 - 120   Sovereign entity's capital loss from membership interest etc. in trust or company--loss disregarded

880 - 125   Covered sovereign entities

880 - 130   Meaning of public non - financial entity and public financial entity