Bill returned from the Senate with amendments.

Ordered that the amendments be considered immediately.

Senate’s amendments—

(1)   Schedule 1, item 13, page 9 (after line 10), after subsection 109CA(7), insert:

     (7A)    Subsection (1) does not apply to the provision of a dwelling to the entity if:

             (a)    the dwelling is a flat or home unit that is part of a complex of 2 or more flats or home units; and

             (b)    the provider of the dwelling is a company that owns a legal or equitable interest in the land on which the complex is erected; and

             (c)    there is more than one share in the company, and each share (whether singly or as part of a parcel of shares) gives the relevant shareholder the right to occupy a flat or home unit in the complex; and

             (d)    each flat or home unit in the complex is covered by a share, or a parcel of shares, in the company; and

             (e)    the dwelling is provided to the entity because a shareholder holds such a share, or parcel of shares; and

              (f)    the company does not have legal or equitable interests in any assets other than legal or equitable interests in:

                   (i)    the complex, and the land on which it is erected; and

                  (ii)    any related land and buildings; and

                 (iii)    any related plant, machinery, equipment, furniture or fittings; and

                 (iv)    any assets relating to the matters mentioned in paragraph (g); and

             (g)    the assessable income of the company is derived predominantly from:

                   (i)    managing and maintaining the complex (including the assets mentioned in subparagraphs (f)(i), (ii) and (iii)); and

                  (ii)    interest and dividends relating to income derived from managing and maintaining the complex (including the assets mentioned in those subparagraphs).

      (7B)    Subsection (7A) does not apply in a case to which Subdivision E (about interposed entities) applies, if the company mentioned in that subsection is interposed between:

             (a)    a private company; and

             (b)    a shareholder, or an associate of a shareholder, of the private company.

(2)    Schedule 1, item 13, page 9 (lines 12 and 13), omit “subsections (6) and (7)”, substitute “subsections (6) to (7A)”.

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