Tax Laws Amendment (2006 Measures No. 2) Act 2006 (58 of 2006)

Schedule 7   Technical corrections and improvements

Part 1   Amendments commencing on Royal Assent

Income Tax Assessment Act 1997

113   Subsection 995-1(1) (definition of non-equity share )

Repeal the definition, substitute:

non-equity share means a *share that is not an *equity interest in the company.

Note: A share will not be an equity interest if it is characterised as, or forms part of a larger interest that is characterised as, a debt interest under Subdivision 974-B.