Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)

Schedule 1   Thin Capitalisation: amendments taking effect on 1 July 2001

Part 5   Arrangements for borrowing securities

Income Tax Assessment Act 1997

28   Subsection 995-1(1) (at the end of the definition of on-lent amount )

Add:

; and (d) if the entity:

(i) carries on a *business of dealing in securities; and

(ii) does not carry on that business predominantly for the purposes of dealing in securities with, or on behalf of, the entity's *associates;

all *shares that:

(iii) the entity holds at that time; and

(iv) are listed at that time for quotation in the official list of an *approved stock exchange; and

(v) are not shares in an *associate entity at that time of the entity.