Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)

Schedule 2   Consequential amendments relating to Schedule 1 repeals etc.

Part 1   Amendments: general

Income Tax Assessment Act 1936

543   Subsections 272-90(6) and (7) in Schedule 2F

Repeal the subsections, substitute:

Funds

(6) A fund, authority or institution in Australia that is mentioned in item 1 or 2 of the table in section 30-15 of the Income Tax Assessment Act 1997 is a member of the primary individual's family group in relation to the conferral or distribution if, assuming that a deduction were allowable under Division 30 of that Act in respect of the conferral or distribution, section 78A of this Act would not prevent any of the deduction being allowable.

Certain tax exempt bodies

(7) An institution, hospital, trustee, society, association, club, or fund, all of whose income is exempt under:

(a) section 50-5, 50-10 or 50-20 of the Income Tax Assessment Act 1997; or

(b) item 6.1 or 6.2 of the table in section 50-30, or item 9.1 or 9.2 of the table in section 50-45, of the Income Tax Assessment Act 1997;

is a member of the primary individual's family group in relation to the conferral or distribution if, assuming that a deduction were allowable under Division 30 of that Act in respect of the conferral or distribution, section 78A of this Act would not prevent any of the deduction being allowable.