IS 14/02
Issued
28 Apr 2014

Income tax - foreign tax credits - What is a tax of substantially the same nature as income tax imposed under s BB 1?

This Interpretation Statement sets out the Commissioner’s view of how s YA 2(5) should be interpreted and applied. In particular, it identifies the characteristics that a foreign tax must have to be a tax 'of substantially the same nature as income tax imposed under s BB 1'.