Treasury Laws Amendment (2018 Measures No. 2) Act 2020 (8 of 2020)

Schedule 2   Innovation measures

Part 2   Early stage investor tax offsets

Income Tax Assessment Act 1997

13   At the end of subsection 360-40(1)

Add:

; and (f) at the test time, the company is not a foreign company (within the meaning of the Corporations Act 2001).

Note: For the purposes of paragraph (e), one way a company can demonstrate something is by engaging the services of another entity.