Income Tax Act 2007 section 735

Qualifying new residents and remittance-basis users: "foreign" deemed income

Section 735 determines how deemed income arising under the transfer of assets abroad rules is classified as "foreign" and sets out the tax treatment for individuals who were on the remittance basis (up to 2024-25) or who qualify as new residents (from 2025-26 onwards).

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.