Income Tax Act 2007 section 735C

Historical operation of section 733C or 733E where remittance basis applied

Section 735C preserves the treatment of income arising under the transfer of assets abroad rules (via onward gifts under sections 733C or 733E) for individuals who used the remittance basis during the tax years 2018-19 to 2024-25, ensuring that such income is classified as relevant foreign income and that the onward payment is linked to that income for remittance basis purposes.