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INCOME TAX ASSESSMENT ACT 1936 - SECT 333 Companies that are residents of unlisted countries

INCOME TAX ASSESSMENT ACT 1936 - SECT 333

Companies that are residents of unlisted countries

  (1)   For the purposes of this Part, a company is a resident of an unlisted country at a particular time if, and only if:

  (a)   the company is, in accordance with subsection   (2), a resident of a particular unlisted country at that time; or

  (b)   paragraph   (a) does not apply and the company is at that time neither:

  (i)   a Part   X Australian resident; nor

  (ii)   a resident of a particular listed country.

  (2)   For the purposes of this Part, a company is a resident of a particular unlisted country (in this section called the unlisted country of residence ) at a particular time if, and only if:

  (a)   the company is not a Part   X Australian resident at that time; and

  (b)   the company is not treated as a resident of a listed country at that time for the purposes of the tax law of the listed country; and

  (c)   any of the following subparagraphs applies:

  (i)   both of the following conditions are satisfied at that time:

  (A)   the company is treated as a resident of the unlisted country of residence for the purposes of the tax law of the unlisted country of residence;

  (B)   the company is not treated as a resident of any other unlisted country for the purposes of the tax law of the unlisted country;

  (ii)   both of the following conditions are satisfied at that time:

  (A)   the company is treated as a resident of the unlisted country of residence and at least one other unlisted country for the purposes of the tax laws of each of those unlisted countries;

  (B)   the company is incorporated in the unlisted country of residence;

  (iii)   both of the following conditions are satisfied at that time:

  (A)   the company is not treated as a resident of any unlisted country for the purposes of the tax law of the unlisted country;

  (B)   the company's management and control is solely or principally located in the unlisted country of residence.

  (iv)   all of the following conditions are satisfied at that time:

  (A)   the company is not treated as a resident of any unlisted country for the purposes of the tax law of the unlisted country;

  (B)   the company's management and control is not solely or principally located in the unlisted country of residence;

  (C)   the company is incorporated in the unlisted country of residence.

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