Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 128AF

             (1)  This section applies if:

                     (a)  a payment received by a non‑resident through one or more interposed companies, partnerships, trusts or other persons is attributable to an amount of dividends, interest or royalties paid by a resident; and

                     (b)  one or more of the interposed companies, partnerships, trusts or other persons is exempt from tax.

             (2)  If this section applies, the amount of dividends, interest or royalties paid by a resident is taken, for the purposes of this Division, to have been paid by the resident directly to the non‑resident.

             (3)  For the purposes of this section, a person is exempt from tax if, at the time at which the payment was received by the non‑resident, all income of the person was exempt from tax.