Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 974 - Debt and equity interests  

Subdivision 974-B - Debt interests  

SECTION 974-30   Providing a financial benefit  

Issue of equity interest

974-30(1)  
The following do not constitute the provision of a *financial benefit by an entity or a *connected entity of the entity:


(a) the issue of an *equity interest in the entity or a connected entity of the entity; or


(b) an amount that is to be applied in respect of the issue of an equity interest in the entity or a connected entity of the entity. Providing a financial benefit to an entity

974-30(2)  
A *financial benefit is taken to be provided to an entity if it is provided:


(a) to the entity; or


(b) on the entity's behalf; or


(c) for the entity's benefit. Obligation to provide future financial benefit

974-30(3)  
For the avoidance of doubt, if you have a present obligation to provide a *financial benefit to an entity at some time in the future:


(a) the financial benefit is taken to be a financial benefit to be provided in the future; and


(b) the obligation to provide the financial benefit is taken not to be a financial benefit being provided at the present.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.