Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:3_20
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 3 cl 20
Character Range: 124221–124954

20  Subsection 18‑30(1) in Schedule 1
Repeal the subsection, substitute:
 (1) An entity is entitled to a credit if:
 (a) the entity's *ordinary income, or *statutory income, includes any of the following:
 (i) a *dividend (or a part of it), interest (within the meaning of Division 11A of Part III of the Income Tax Assessment Act 1936) or a *royalty;
 (ii) an amount that is represented by or reasonably attributable to an *AMIT DIR payment; and
 (b) if subparagraph (a)(i) applies—if the entity has borne all or part of an *amount withheld from the dividend, interest or royalty; and
 (c) if subparagraph (a)(ii) applies—if the entity has borne all or part of an amount paid under Division 12A in respect of the AMIT DIR payment.