Tax Laws Amendment (2004 Measures No. 1) Act 2004 (95 of 2004)
Schedule 3 Small business CGT relief and discretionary trusts
Income Tax Assessment Act 1997
5 Subsection 152-30(8)
Repeal the subsection, substitute:
(8) However, if an entity (the first entity ) controls an entity of a kind referred to in subsection (9) (the public entity ), this section does not, merely because of subsection (7), apply to the first entity as if it controlled any other entity that is controlled by the public entity.
(9) The kinds of entities are:
(a) a company *shares in which (except shares that carry the right to a fixed rate of *dividend) are listed for quotation in the official list of an *approved stock exchange; or
(b) a *publicly traded unit trust; or
(c) a *mutual insurance company; or
(d) a *mutual affiliate company; or
(e) a company (other than one covered by paragraph (a)) all the shares in which are beneficially owned by one or more of the following:
(i) a company covered by paragraph (a);
(ii) a publicly traded unit trust;
(iii) a mutual insurance company;
(iv) a mutual affiliate company.