Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009 (15 of 2009)

Schedule 1   Amendments

Part 1   Main amendments

Income Tax Assessment Act 1997

21   Subsection 995-1(1) (definition of money equivalent )

Repeal the definition, substitute:

money equivalent means:

(a) a right to receive money or something that is a *money equivalent under this definition; or

(b) a *financial arrangement (within the meaning of section 230-45).