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

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

Part 13   Non-debt liabilities

Income Tax Assessment Act 1997

40   Subsection 995-1(1) (paragraph (c) of the definition of non-debt liabilities )

Repeal the paragraph, substitute:

(c) if the entity is a *corporate tax entity - a provision for a *distribution of profit; or

(ca) if paragraph (c) does not apply - a provision for a distribution to the entity's *members; or