How many of you out there appreciate the significance of this?
EXPOSURE DRAFT Exemption of income derived from foreign service Schedule 1 Tax Laws Amendment (2009 Budget Measures No. 1) Bill 2009 No. , 2009 Schedule 1—Exemption of income derived from foreign service Income Tax Assessment Act 1936 1 After subsection 23AG(1) Insert: (1AA) However, those foreign earnings are not exempt from tax under this section unless the foreign earnings are directly attributable to: (a) the delivery of Australian official development assistance by the person’s employer; or (b) the activities of the person’s employer in operating a public fund covered by item 9.1.1 or 9.1.2 of the table in subsection 30-80(1) of the Income Tax Assessment Act 1997 (international affairs deductible gift recipients); or (c) the person’s deployment outside Australia as a member of a disciplined force by the Commonwealth, a State or a Territory (or an authority of the Commonwealth, a State or a Territory). 2 Application The amendment made by this Schedule applies to income derived on or after 1 July 2009.
