Tax Laws Amendment (2007 Measures No. 3) Act 2007 (79 of 2007)

Schedule 1   Distributions to entities connected with a private company and related issues

Part 1   Main amendments

Income Tax Assessment Act 1936

2   At the end of subsection 109C(3A)

Add:

Note: Payments converted to loans before the private company’s lodgment day are treated as loans (see subsection 109D(4A)).