Tax Laws Amendment (2005 Measures No. 6) Act 2006 (13 of 2006)

Schedule 2   Extension of mutuality principle

Income Tax Assessment Act 1997

2   At the end of subsection 25-75(1) (before the note)

Add:

; or (e) for the purpose of producing amounts to which section 59-35 applies (amounts that would be mutual receipts but for prohibition on distributions to members); or

(f) in carrying on a *business for the purpose of producing amounts to which section 59-35 applies.