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
9 Section 109B
After:
An amount may be treated as a dividend even if it is paid or lent by the company to the shareholder or associate through one or more interposed entities. (See Subdivision E.)
Insert:
An amount may also be included in the assessable income of a shareholder or shareholder's associate if:
(a) a company has an unpaid present entitlement to income of a trust; and
(b) the trustee makes a payment or loan to, or forgives a debt of, the shareholder or associate.
(See Subdivisions EA and EB.)