Treasury Laws Amendment (Fairer for Families and Farmers and Other Measures) Act 2024 (136 of 2024)

Schedule 6   Miscellaneous and technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 2   Contents of annual financial reports

Corporations Act 2001

4   After subsection 295(3A)

Insert:

(3B) For the purposes of this section, an entity is an Australian resident at the end of a financial year if the entity is:

(a) an Australian resident (within the meaning of the Income Tax Assessment Act 1997) at that time; or

(b) a partnership at least one member of which is an Australian resident (within the meaning of the Income Tax Assessment Act 1997) at that time; or

(c) a resident trust estate (within the meaning of Division 6 of Part III of the Income Tax Assessment Act 1936) in relation to the year of income (within the meaning of that Act) that corresponds to the financial year.