INCOME TAX ASSESSMENT ACT 1997 - SECT 840.815 Certain income is non - assessable non - exempt income

INCOME TAX ASSESSMENT ACT 1997 - SECT 840.815

  (1)   An amount on which * managed investment trust withholding tax is payable is not assessable income and is not * exempt income of an entity.

  (2)   Subsection   (1) does not apply to an Australian resident to the extent that:

  (a)   * managed investment trust withholding tax is payable on the amount because of subsection   840 - 805(4D); and

  (b)   the Australian resident is entitled, directly or indirectly, to the amount.