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Schedule 4—Income tax and withholding exemptions for the ICC World Twenty20

Schedule 4 Income tax and withholding exemptions for the ICC World Twenty20

   

Income Tax Assessment Act 1936

1  Subparagraph 128B(3)(a)(i)

Omit “or 9.2”, substitute “, 9.2 or 9.3”.

Income Tax Assessment Act 1997

2  Section 11-5 (table item headed “sports, culture or recreation”)

After:

game society etc. ...................................................................

50-45

insert:

ICC Business Corporation FZ-LLC....................................

50-45

3  Section 50-40 (table item 8.4)

Omit “in assessable income”, substitute “as * ordinary income or * statutory income”.

4  Section 50-45 (at the end of the table)

Add:

9.3

ICC Business Corporation FZ-LLC

both of the following:

(a) the entity is a * wholly-owned subsidiary of International Cricket Council Limited;

(b) only amounts included as * ordinary income or * statutory income:

(i) on or after 1 July 2018; and

(ii) before 1 July 2023