152BIncome or profits as designated concession income

152B Income or profits as designated concession income

(1) For the definition of designated concession income in section 317 of the Act, if: (a) a listed country is mentioned in column 2 of an item in Part 2 of Schedule 9; and (b) an entity mentioned in column 3 of the item derived income or profits that are: (i) of a kind specified in column 4 of the item; and (ii) further described in column 5 of the item; the income or profits are designated concession income. (2) For subregulation (1), the income or profits of an entity include: (a) the entity’s interest in the income or profits of a partnership in which the entity is a partner; and (b) the entity’s beneficial interest in the income or profits of a trust estate in which the entity is a beneficiary.