Tax and Superannuation Laws Amendment (2016 Measures No. 1) Act 2016 (52 of 2016)
Schedule 3 Farm management deposits
Part 1 Main amendments
Income Tax Assessment Act 1997
7 Section 393-35 (table item 8)
Repeal the item, substitute:
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8 |
The fact that the *owner is the owner of the deposit must not be the reason why, or one of the reasons why, amounts of interest that are or will be payable to the *FMD provider in respect of loans or other debts of the owner, or of a partnership of which the owner is a partner, are or will be less than they would otherwise be. |