Income Tax Assessment Act 1997

Disregard redeemable shares  
165-195(1)
For the purposes of a test, a person who beneficially owns *redeemable shares at a particular time, is taken not to own the shares beneficially at that time.

165-195(2)
In applying a test for the purposes of Subdivision 165-A (which is about deducting tax losses of earlier income years), this section does not cover *shares allotted before the *loss year.

165-195(3)
In applying a test for the purposes of Subdivision 165-C (about deducting bad debts), this section does not cover *shares allotted before the *first continuity period.