The 2004 Bill proposed:
- an exemption for all non portfolio dividends
- an exemption for active foreign branch income and capital gains
- a new CGT concession for capital gains arising from disposal of non portfolio interest in active foreign companies
- a new tainted services income rule for Controlled Foreign Companies.
These seminar materials examine in detail the new provisions and the practical implications of:
- the new foreign source income tax exemptions and consequential impacts
- the new CGT concession
- the NITA Bill 2003 (introduced December 2003) - in particular, the Foreign Investment Fund measures.