Document ID: chunk:federal_register_of_legislation:C2024C00267:section:4:p14
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 4 (pt 14/64)
Character Range: 738234–741014

is incorporated or formed in that country and is carrying on a business in that country.
 (4) Instead, you are liable to pay income tax on the amounts (reduced as mentioned in subsection (5)) at the rate declared by the Parliament.
Note: The tax is imposed by the Income Tax (Managed Investment Trust Transitional) Act 2008.
 (5) The amounts are reduced by any loss or outgoing of yours to the extent that:
 (a) it is incurred in gaining or producing the amounts; or
 (b) it is necessarily incurred in carrying on a business for the purpose of gaining or producing the amounts.

840‑810  Payment of tax under section 840‑805
 (1) Income tax under section 840‑805 is due and payable by you at the end of 21 days after:
 (a) if subsection 840‑805(2) or (3) of the Income Tax Assessment Act 1997 would apply to you apart from section 840‑805 of this Act—the end of the month in which the relevant amount is paid, applied or dealt with; or
 (b) if subsection 840‑805(4) of that Act would so apply to you—the end of the month in which you become presently entitled to the relevant amount.
 (2) Subsections 840‑810(2) to (5) of the Income Tax Assessment Act 1997 apply to income tax payable under this section.

Subdivision 840‑S—Labour mobility program withholding tax

Table of sections
840‑905 Application of Subdivision 840‑S of the Income Tax Assessment Act 1997

840‑905  Application of Subdivision 840‑S of the Income Tax Assessment Act 1997
  Subdivision 840‑S of the Income Tax Assessment Act 1997 applies to income derived on or after 1 July 2012.

Division 842—Exempt Australian source income and gains of foreign residents

Subdivision 842‑I—Investment manager regime

Table of sections
842‑207 Application of replacement version of Subdivision 842 I
842‑208 Modified meaning of IMR foreign fund for the purposes of earlier income years
842‑209 Residence of corporate limited partnerships
842‑210 Treatment of IMR foreign fund that is a corporate tax entity
842‑215 Treatment of foreign resident beneficiary that is not a trust or partnership
842‑220 Treatment of foreign resident partner that is not a trust or partnership
842‑225 Treatment of trustee of an IMR foreign fund
842‑230 Pre‑2012 IMR deduction
842‑235 Pre‑2012 IMR capital loss
842‑240 Pre‑2012 non‑IMR net income, pre‑2012 non‑IMR Division 6E net income and pre‑2012 non‑IMR net capital gain
842‑245 Pre‑2012 non‑IMR partnership net income and pre‑2012 non‑IMR partnership loss

842‑207  Application of replacement version of Subdivision 842‑I
 (1) The new Subdivision 842‑I applies, or is taken to have applied, in relation to:
 (a) the 2015‑16 income year and later income years; and
 (b) if an entity chooses to apply the new Subdivision 842‑I in relation to the 2011‑12, 2012‑13, 2013‑14 and 2014‑15 income