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
7 Subsection 360-15(2)
Repeal the subsection, substitute:
Members of trusts or partnerships
(2) A *member of a trust or partnership (other than a partnership that is an *ESVCLP) at the end of an income year is entitled to a *tax offset for the income year if:
(a) the trust or partnership would be entitled to a tax offset, under this section, for the income year if the trust or partnership were an individual; and
(b) the member is not a *widely held company or a *100% subsidiary of a widely held company.