Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5   Consolidation

Part 16   Loss multiplication rules for widely held companies

Income Tax Assessment Act 1997

150D   At the end of subsection 715-610(2)

Add:

(e) all of these conditions are satisfied at that time:

(i) the realised interest was an equity or loan interest, an *indirect equity or loan interest or an external indirect equity or loan interest, in the *head company of a consolidated group;

(ii) the owner was not a member of the group;

(iii) the head company was an *eligible tier-1 company of a *top company.