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INCOME TAX ASSESSMENT ACT 1936

PART IVA - SCHEMES TO REDUCE INCOME TAX    View history reference

SECTION 177A  INTERPRETATION  

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177A(1)  

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In this Part, unless the contrary intention appears:

associate has the same meaning as in Part X.

Australian customer , of a foreign entity, means another entity who:


(a) is in Australia, or is an Australian entity; and


(b) if the foreign entity is a member of a global group - is not a member of that global group.

Australian entity has the same meaning as in Part X.

Australian permanent establishment of an entity means:


(a) if:


(i) the entity is a resident in a country that has entered into an international tax agreement (within the meaning of subsection 995-1(1) of the Income Tax Assessment Act 1997) with Australia; and

(ii) that agreement contains a permanent establishment article (within the meaning of that subsection);
a permanent establishment (within the meaning of that agreement) in Australia; or


(b) otherwise - a permanent establishment of the person in Australia.

capital loss has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997.

[CCH Note: Item 403 of Schedule 2 to the Tax Law Improvement Act (No 1) 1998, effective 22 June 1998, attempted to repeal the definition of capital loss, and substitute the following:

capital loss means a capital loss within the meaning of Part 3-1 of the Income Tax Assessment Act 1997.

However, the definition for which the substitution was apparently intended was not inserted into s 177A(1) until 9 April 1999, by Taxation Laws Amendment Act (No 1) 1999. The apparent intended substitution has not been made by CCH. If it is still the Parliament's intention that the substitution be made, a technical amendment can be expected to be made retrospectively to one of these Acts.]

DPT base amount has the meaning given by subsection 177P(2).

DPT provisions means sections 177H, 177J, 177K, 177L, 177M, 177N, 177P, 177Q and 177R.

DPT tax benefit has the meaning given by subsection 177J(1).

entity has the meaning given by section 960-100 of the Income Tax Assessment Act 1997.

foreign entity has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997.

foreign income tax offset means a tax offset allowed under Division 770 of the Income Tax Assessment Act 1997.

foreign law has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997.

foreign tax credit (Repealed by No 143 of 2007)

global group means a group of entities, at least one of which is a foreign entity, that are consolidated for accounting purposes as a single group.

innovation tax offset means a tax offset allowed under:


(a) Subdivision 61-P (about early stage venture capital limited partnerships) of the Income Tax Assessment Act 1997; or


(b) Subdivision 360-A (about early stage investors in innovation companies) of that Act.

scheme means:


(a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings; and


(b) any scheme, plan, proposal, action, course of action or course of conduct.

section 159TL rebate (Omitted by No 208 of 1992)

significant global entity has the meaning given by section 960-555 of the Income Tax Assessment Act 1997.

standard corporate tax rate means the rate of tax in respect of the taxable income of a company covered by paragraph 23(2)(b) of the Income Tax Rates Act 1986.

[CCH Note: Definition of "standard corporate tax rate" will be amended by No 27 of 2017, s 3 and Sch 1 item 7, by substituting "under subsection 23(2)" for "covered by paragraph 23(2)(b)", effective 1 July 2023.]

supply has the meaning given by section 9-10 of the GST Act, but does not include any of the following, or of any combination of 2 or more of the following:


(a) a supply of an equity interest in an entity;


(b) a supply of a debt interest in an entity;


(c) a supply of an option for:


(i) a supply of a kind referred to in paragraph (a) or (b); or

(ii) any combination of 2 or more such supplies.

taxpayer includes a taxpayer in the capacity of a trustee.

177A(2)  

The definition of taxpayer in subsection (1) shall not be taken to affect in any way the interpretation of that expression where it is used in this Act other than this Part.

177A(3)  

The reference in the definition of scheme in subsection (1) to a scheme, plan, proposal, action, course of action or course of conduct shall be read as including a reference to a unilateral scheme, plan, proposal, action, course of action or course of conduct, as the case may be.

177A(4)  

A reference in this Part to the carrying out of a scheme by a person shall be read as including a reference to the carrying out of a scheme by a person together with another person or other persons.

177A(5)  

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A reference in this Part (other than sections 177DA and 177J) to a scheme or a part of a scheme being entered into or carried out by a person for a particular purpose shall be read as including a reference to the scheme or the part of the scheme being entered into or carried out by the person for 2 or more purposes of which that particular purpose is the dominant purpose.

177A(6)  

(Omitted by No 208 of 1992)


 



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