Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 167 - Companies whose shares carry unequal rights to dividends, capital distributions or voting power  

Subdivision 167-B - Voting power  

Operative provisions

SECTION 167-85   Different method for working out voting power  

167-85(1)    
An entity may choose whether voting power in the company at a particular time is worked out solely by reference to:


(a) the maximum number of votes that could be cast on a poll on the election of a director of the company, if such a poll were to be held at that time; or


(b) the maximum number of votes that could be cast on a poll on an amendment to the company ' s *constitution, other than an amendment altering:


(i) the rights carried by any of the company ' s *shares; or

(ii) other forms of voting power in the company;
if such a poll were to be held at that time.

167-85(2)    
The way the entity prepares its *income tax return is sufficient evidence of it making a choice under subsection (1).


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