Tax Laws Amendment (Tax Incentives for Innovation) Act 2016 (54 of 2016)

Schedule 2   Venture capital investment

Part 8   Auditing requirements

Income Tax Assessment Act 1997

71   Subsection 995-1(1)

Insert:

registered auditor , in relation to an entity, means:

(a) a person registered as an auditor under a law in force in a State or a Territory; or

(b) if the entity is not an Australian resident - a person registered as an auditor under a law in force in the country of which the entity is a resident.