Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)
Schedule 1 Small business relief for CGT events
Income Tax Assessment Act 1997
30 Subsection 152-30(6A)
Repeal the subsection (not including the note), substitute:
(6A) The trustee of a discretionary trust may nominate not more than 4 beneficiaries as being controllers of the trust for an income year for which the trustee did not make a distribution of income or capital if the trust had a *tax loss, or no taxable income, for that year.
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