Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)

Schedule 8   Family trusts

Income Tax Assessment Act 1936

10   Section 272-95 in Schedule 2F

Repeal the section, substitute:

272-95 Family

(1) The family of an individual (the test individual ) consists of the test individual and all of the following (if applicable):

(a) any parent, grandparent, brother or sister of the test individual or the test individual's spouse;

(b) any nephew, niece or child of the test individual or the test individual's spouse;

(c) any lineal descendant of a nephew, niece or child referred to in paragraph (b);

(d) the spouse of the test individual or of anyone who is a member of the test individual's family because of paragraphs (a), (b) and (c).

Note: Child and spouse are defined in subsection 6(1).

(2) A person does not cease to be a family member merely because of the death of any other family member.

(3) In this section, an adopted child, step-child or ex-nuptial child of a person is taken to be a lineal descendant of that person for the purposes of determining the lineal descendants of that person or any other person.

Note: A person who is no longer a member of an individual's family under this section may still be a member of the individual's family group under subsection 272-90(2A).