Tax Laws Amendment (Tax Incentives for Innovation) Act 2016 (54 of 2016)

Schedule 1   Tax incentives for early stage investors

Part 2   Other amendments

Taxation Administration Act 1953

18   Paragraph 396-60(1)(a) in Schedule 1

Repeal the paragraph, substitute:

(a) must relate to:

(i) the identification, collection or recovery of a possible *tax-related liability; or

(ii) the identification of a possible reduction of a possible tax-related liability;

of a party to the transaction (disregarding any exemption under a *taxation law that may apply to those parties); and