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Thursday, 17 June 2010
Page: 5796

Mr CLARE (Parliamentary Secretary for Employment) (4:18 PM) —I move:

That the amendments be agreed to.

The amendments ensure that the use of certain company title flats or home units does not result in a payment for the purposes of division 7A of the Income Tax Assessment Act 1936. The amendments treat individuals who own a flat or home unit through a company title arrangement in the same way as those who purchase a flat or home unit under a strata title arrangement. The amendments implement a recommendation of the Senate Economics Legislation Committee in relation to schedule 1 of the bill.

Question agreed to.