Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)
Schedule 6 Debt and equity interests
Part 1 Related party at call etc. loans
Income Tax Assessment Act 1997
6 Paragraph 974-75(4)(c)
Repeal the paragraph, substitute:
(c) either:
(i) the loan is repayable on demand made by the connected entity, and repayment is required immediately on the making of the demand, or is required at the end of a particular period after the demand is made (being a period that is not longer than is reasonably necessary to arrange repayment); or
(ii) the loan is repayable on the death of the connected entity (if the connected entity is an individual); and
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