Tax Laws Amendment (2009 Measures No. 2) Act 2009 (42 of 2009)
Schedule 2 CGT concessions for small business
Part 2 Other amendments
Income Tax Assessment Act 1997
36 Subsection 152-310(3)
Repeal the subsection, substitute:
Additional consequences in relation to interposed entities
(a) an entity (the paying entity ) receives a payment (whether directly or indirectly through one or more interposed entities) that a company or trust makes to comply with section 152-325; and
(b) the paying entity passes on the payment to the *CGT concession stakeholder or another interposed entity;
(c) the payment cannot be deducted from the paying entity's assessable income; and
(d) the payment received by the paying entity is not assessable income and is not *exempt income.
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