Document ID: chunk:federal_register_of_legislation:C2025C00014:section:448:p1
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 448 (pt 1/3)
Character Range: 2075347–2077953

448  Tainted services income
 (1) Subject to this Division, for the purposes of this Part, the following amounts are tainted services income of a company of a statutory accounting period:
 (a) income (other than premium income) from the provision of services by the company to an entity, if:
 (i) the entity was a Part X Australian resident at the time the income was derived; and
 (ii) the services were not provided in connection with a business carried on by the entity at that time at or through a permanent establishment of the entity in a listed or unlisted country;
 (b) income (other than premium income) from the provision of services by the company to an entity who was not a Part X Australian resident at the time the income was derived, in connection with a business carried on by the entity at that time at or through a permanent establishment of the entity in Australia;
 (c) income consisting of life assurance premiums in respect of a life assurance policy if, at the time the policy was entered into, the owner of the policy was a Part X Australian resident;
 (d) income consisting of premiums (other than life assurance premiums) in respect of insurance (other than reinsurance) where any of the following conditions are satisfied at the time the policy was entered into:
 (i) any insured person was a Part X Australian resident, and the policy was not entered into in connection with a business carried on by the person at or through a permanent establishment of the person in a listed or unlisted country;
 (ii) any insured property was situated in Australia;
 (iii) any insured event was an event which could happen only in Australia;
 (e) income consisting of premiums in respect of reinsurance, if:
 (i) the insurer whose risks are directly covered by the reinsurance was a Part X Australian resident at the time the policy was entered into; and
 (ii) the policy was not entered into in connection with a business carried on by the insurer at that time at or through a permanent establishment of the insurer in a listed or unlisted country;
 (f) income consisting of premiums in respect of reinsurance, if:
 (i) the insurer whose risks are directly covered by the reinsurance was not a Part X Australian resident at the time the policy was entered into; and
 (ii) the policy was entered into in connection with a business carried on by the insurer at that time at or through a permanent establishment of the insurer in Australia;
 (g) income of the company covered by subsection (1A).
 (1A) Income of the company is covered by this subsection if:
 (a) it is income from the provision