Clause 26

In the ITA, in section 34F, after subsection (10), insert —“(11) For the purposes of this section, a related party of a partnership, a trustee of a trust, or a registered business trust is determined by reference to section 34D(3), (5) or (7), as the case may be.(12) Subsection (3) does not apply to a transaction between parties to a trust mentioned in section 34D(10).(13) To avoid doubt, a reference to a company in this section includes (by reason of section 36B(1)) a “registered business trust” as defined by section 2 of the Business Trusts Act 2004.”.