Document ID: chunk:federal_register_of_legislation:C2025C00014:section:128b:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 128B (pt 4/10)
Character Range: 1247085–1249756

that is franked with an exempting credit;
  other than a dividend in respect of which a determination is made under paragraph 204‑30(3)(c) of the Income Tax Assessment Act 1997 or a dividend or a part of a dividend in respect of which a determination is made under paragraph 177EA(5)(b) of this Act; or
 (gb) income that consists of a dividend derived from assets included in the insurance funds of a life assurance company that carries on business in Australia at or through a permanent establishment of the life assurance company in Australia; or
 (gc) income that consists of interest derived on a nostro account by a non‑resident that is a foreign bank; or
 (h) income that consists of:
 (ii) interest derived by a non‑resident in carrying on business in Australia at or through a permanent establishment of the non‑resident in Australia (except interest derived by a limited partner in a VCLP, ESVCLP or AFOF as such a partner);
 (iv) interest to which section 128F, 128FA or 128GB applies; or
 (j) income in respect of which a taxpayer is liable to be assessed under Division 9C; or
 (jb) income that:
 (i) is derived by a non‑resident that is a superannuation fund for foreign residents; and
 (ii) consists of interest, or consists of dividends or non‑share dividends paid by a company that is a resident; and
 (iii) is exempt from income tax in the country in which the non‑resident resides; or
Note: See subsection (3CA) for extra requirements relating to this paragraph.
 (k) income that is not included in assessable income because of subsection 271‑105(1); or
 (l) income derived by a trustee that, because of paragraph 102UK(2)(b) or 102UM(2)(b), is not included in the assessable income of a trustee beneficiary of the trust estate; or
 (m) income that consists of a royalty that is paid to the non‑resident by a person (the lessee) as consideration for the lease, by the lessee from the non‑resident, of a vessel if:
 (i) the lessee is an Australian resident company; and
 (ii) the vessel is not an excluded vessel (within the meaning of the Shipping Reform (Tax Incentives) Act 2012); and
 (iii) under the lease, the lessee has whole possession and control of the vessel (including the right to appoint the master and crew of the ship); and
 (iv) during the period of the lease, the vessel is used, or is available for use, as mentioned in paragraph 8(1)(c) of the Shipping Reform (Tax Incentives) Act 2012; or
 (n) income that is non‑assessable non‑exempt income because of Division 880 of the Income Tax Assessment Act 1997 or Division 880 of the Income Tax (Transitional Provisions) Act 1997.
 (3A) Paragraph (3)(ga) does not apply to income consisting