Document ID: chunk:federal_register_of_legislation:C2025C00014:section:6:p12
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 6 (pt 12/19)
Character Range: 34589–37195

457 or 459A;
but does not include:
 (m) an amount that arose from an asset necessarily held by the taxpayer in connection with an insurance business actively carried on by the taxpayer; or
 (n) an amount included in the taxpayer's assessable income under Division 83A of the Income Tax Assessment Act 1997 (about employee share schemes).
PDF (pooled development fund) means a company that is a PDF within the meaning of the Pooled Development Funds Act 1992, but does not include such a company in the capacity of a trustee.
PDF component, in relation to a company that becomes a PDF during the year of income and is still a PDF at the end of the year of income, means:
 (a) in a case where the amount that, if:
 (i) the period beginning at the start of the year of income and ending immediately before the company becomes a PDF were a year of income of the company; and
 (ii) the period (the PDF notional year) beginning when the company becomes a PDF and ending at the end of the year of income were a year of income of the company; and
 (iii) paragraph (c) of the definition of taxable income were omitted;
  would be the company's taxable income of the PDF notional year is $1 or more—that amount; or
 (b) otherwise—a nil amount.
permanent establishment, in relation to a person (including the Commonwealth, a State or an authority of the Commonwealth or a State), means a place at or through which the person carries on any business and, without limiting the generality of the foregoing, includes:
 (a) a place where the person is carrying on business through an agent;
 (b) a place where the person has, is using or is installing substantial equipment or substantial machinery;
 (c) a place where the person is engaged in a construction project; and
 (d) where the person is engaged in selling goods manufactured, assembled, processed, packed or distributed by another person for, or at or to the order of, the first‑mentioned person and either of those persons participates in the management, control or capital of the other person or another person participates in the management, control or capital of both of those persons—the place where the goods are manufactured, assembled, processed, packed or distributed;
but does not include:
 (e) a place where the person is engaged in business dealings through a bona fide commission agent or broker who, in relation to those dealings, acts in the ordinary course of his or her business as a commission agent or broker and does not receive remuneration otherwise than at a rate customary in relation to dealings of that kind, not being a place where the