INCOME TAX ASSESSMENT ACT 1997 - SECT 207.117 Residency requirement

INCOME TAX ASSESSMENT ACT 1997 - SECT 207.117

    An entity satisfies the residency requirement for the purposes of determining whether, at the time a * franked distribution is made, the entity is an * exempt institution that is eligible for a refund if:

  (a)   the entity has a physical presence in Australia; and

  (b)   to that extent, incurs its expenditure and pursues its objectives principally in Australia;

at all times during the income year in which the distribution is made.