This section has no associated Explanatory Notes
191(1)Amend section 789 (double taxation arrangements made under old law) as follows.
(2)In subsection (2) for paragraph (a) substitute—
“(a)to bear income tax at—
(i)the savings rate, where that income is savings income;
(ii)the dividend ordinary rate, where that income is dividend income; or
(iii)the basic rate, in any other case; and”.
(3)In subsection (2)(b) for the words from “except” to the end substitute “except—
(i)for the purpose of section 274 (limits on relief under sections 266 and 273); and
(ii)for the purpose of calculating “adjusted net income” for the purposes of Chapter 1 of Part 7 of this Act (see section 256A) or Chapters 2 and 3 of Part 3 of ITA 2007 (see section 58 of that Act).”