Tax Laws Amendment (2010 Measures No. 2) Act 2010 (75 of 2010)

Schedule 1   Distributions to entities connected with a private company

Income Tax Assessment Act 1936

30   After subsection 109Y(2)


(2A) Reduce the total of the amounts worked out under paragraph (b) of the definition of non-commercial loans in subsection (2) by the total of the unfranked parts of any dividends:

(a) that are distributed by the company; and

(b) to which section 109ZCA applies.