Treasury Laws Amendment (Tax Integrity and Other Measures) Act 2018 (124 of 2018)

Schedule 1   Multinational anti-avoidance law

Income Tax Assessment Act 1936

1   Subsection 177A(1)

Insert:

foreign entity participant :

(a) if a beneficiary of a trust estate or a partner in a partnership is a foreign entity, the trust estate or partnership has a foreign entity participant ; and

(b) if a trust estate or partnership has a foreign entity participant (including through a previous operation of this paragraph):

(i) a trust of which the trust estate or partnership is a beneficiary also has a foreign entity participant ; and

(ii) a partnership in which the trust estate or partnership is a partner also has a foreign entity participant .