Document ID: chunk:federal_register_of_legislation:C2018A00084:clause:2_5
Version: federal_register_of_legislation:C2018A00084
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 128700–129312

5  At the end of section 404
Add:
 (2) For the purpose of applying this Act in calculating the attributable income of the eligible CFC, disregard paragraph 768‑5(1)(d) of the Income Tax Assessment Act 1997 if:
 (a) the eligible CFC receives, either directly or indirectly through one or more interposed trusts or partnerships, a foreign equity distribution (within the meaning of the Income Tax Assessment Act 1997) from a company; and
 (b) at the time the distribution is made, both the eligible CFC and the company are residents of the same listed country or unlisted country.

Income Tax Assessment Act 1997