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

Schedule 5   Consolidation

Part 20   Non-membership equity interests

Income Tax Assessment Act 1997

212   Subsection 705-225(5)

Repeal the subsection, substitute:

Non-membership equity interests

(5) For the purposes of this section, if, on becoming a *subsidiary member, a linked entity holds a *non-membership equity interest in another linked entity, that interest is treated as if it were a *membership interest in that other linked entity.