Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 2   Forestry managed investment schemes

Taxation Administration Act 1953

3   After subsection 290-50(2) in Schedule 1

Insert:

(2A) For the purposes of subsection (2), disregard:

(a) subsection 82KZMGA(1A) of the Income Tax Assessment Act 1936; and

(b) subsection 394-10(5A) of the Income Tax Assessment Act 1997.

Note 1: Those 2 subsections relate to forestry managed investment schemes.

Note 2: The effect of this subsection is that a scheme will have been implemented in a way that is materially different from that described in a product ruling if the tax outcome for participants in the scheme is the same as that described in the ruling only because of the operation of the subsections mentioned in paragraphs (a) and (b).