New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 13   Exempting entities and former exempting entities

Income Tax Assessment Act 1997

4   Paragraph 204-30(6)(d)

Repeal the paragraph, substitute:

(d) an*exempting credit would arise in the*exempting account of the member as a result of the distribution; or

(e) the member would not be liable to pay*withholding tax on the distribution, because of the operation of paragraph 128B(3)(ga) of theIncome Tax Assessment Act 1936.