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

203   Subsection 705-65(6)

Repeal the subsection, substitute:

Non-membership equity interests

(6) For the purposes of this section, if at the joining time a *member of the joined group holds a *non-membership equity interest in the joining entity, that non-membership equity interest is treated as if it were a *membership interest in the joining entity.