Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 (133 of 2009)

Schedule 1   Employee share schemes

Part 2   Consequential amendments

Income Tax Assessment Act 1997

74   Subsection 995-1(1) (definition of subsidiary )

Repeal the definition, substitute:

subsidiary : the question whether a company is a subsidiary of another company is to be determined in the same way as the question whether a corporation is a subsidiary of another corporation is determined under the Corporations Act 2001.

Note: The expression 100% subsidiary has the meaning given by section 975-505.