Commonwealth Consolidated Acts Commonwealth Consolidated ActsThis Subdivision modifies the general tax rules for people in Australia who are temporary residents, whether Australian residents or foreign residents.
Generally foreign income derived by temporary residents is non - assessable non - exempt income and capital gains and losses they make are also disregarded for CGT purposes. There are some exceptions for employment - related income and capital gains on shares and rights acquired under employee share schemes.
Temporary residents are also partly relieved of record - keeping obligations in relation to the controlled foreign company rules.
Interest paid by temporary residents is not subject to withholding tax and may be non - assessable non - exempt income for a foreign resident.
Table of sections
Operative provisions
768 - 905 Objects
768 - 910 Income derived by temporary resident
768 - 915 Certain capital gains and capital losses of temporary resident to be disregarded
768 - 950 Individual becoming an Australian resident
768 - 955 Temporary resident who ceases to be temporary resident but remains an Australian resident
768 - 960 Temporary resident not attributable taxpayer for purposes of controlled foreign companies rules
768 - 970 Modification of rules for accruals system of taxation of certain non - resident trust estates
768 - 980 Interest paid by temporary resident