3449.Subsection (4)(a) of this section applies to all income chargeable to tax under Schedule D Case V. But the rule in subsection (3) applies only if there are deductions or expenses allowable in the calculation of the income. So the amendments by this Act identify such foreign income as comprising only:
foreign trading income (the new subsection (4)(a));
income from an overseas property business (the new subsection (4)(b)); and
foreign miscellaneous income (the new subsection (4)(c)).
3450.The new subsection (5) preserves the distinction between post-cessation receipts charged to tax by section 103 of ICTA (to which section 798A does not apply) and those charged to tax by section 104 of ICTA (to which section 798A does apply).