Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 14   Gains and losses

Part 2   Income Tax Assessment Act 1936 (capital gains and capital losses)

25   After section 160J

Insert:

160JA Interpretative provisions for Divisions 3A, 3B, 3C, 3CA, 3CB, 3CC, 3CD and 3D

In Divisions 3A, 3B, 3C, 3CA, 3CB, 3CC, 3CD and 3D, unless the contrary intention appears:

100% subsidiary has the meaning given by section 975-505 of theIncome Tax Assessment Act 1997.

abnormal trading has the meaning given by Subdivision 960-H of theIncome Tax Assessment Act 1997.

approved deposit fund has the meaning given by section 10 of theSuperannuation Industry (Supervision) Act 1993.

arrangement has the same meaning as in theIncome Tax Assessment Act 1997.

capital shareholding of less than 1% has the meaning given by section 160ZNSQ.

complying approved deposit fund means a complying approved deposit fund within the meaning of section 47 of theSuperannuation Industry (Supervision) Act 1993.

complying superannuation fund means a complying superannuation fund within the meaning of section 45 of theSuperannuation Industry (Supervision) Act 1993.

constitution of a company has the same meaning as in theIncome Tax Assessment Act 1997.

dividend has the meaning given by subsections 6(1), (4) and (5) and section 94L.

dividend shareholding of less than 1% has the meaning given by section 160ZNSQ.

entity has the meaning given by section 960-100 of theIncome Tax Assessment Act 1997.

head company has the meaning given by section 160ZNSM.

indirectly has the same meaning as in theIncome Tax Assessment Act 1997.

interposed company has the meaning given by section 160ZNSN.

listed public company has the same meaning as in theIncome Tax Assessment Act 1997.

member of a company includes a shareholder or stockholder.

more than a 50% stake has the meaning given by section 160ZNC.

more than 50% of the company's capital distributions has the meaning given by section 160ZNJ.

more than 50% of the company's dividends has the meaning given by section 160ZNI.

more than 50% of the listed public company's capital distributions has the meaning given by section 160ZNSJ.

more than 50% of the listed public company's dividends has the meaning given by section 160ZNSI.

more than 50% of the voting power has the meaning given by section 160ZNH.

more than 50% of the voting power in the listed public company has the meaning given by section 160ZNSH.

notional net capital gain has the meaning given by subsection 160ZNF(1).

notional net capital loss has the meaning given by subsection 160ZNF(2).

notional shareholder has the meaning given by section 160ZNSO.

ownership test period has the meaning given by section 160ZNC.

ownership test time has the meaning given by section 160ZNSG.

part of a substantial shareholding has the meaning given by section 166-245 of theIncome Tax Assessment Act 1997.

public company means a company that is a public company as defined by section 103A for the year of income.

redeemable shares has the same meaning as in theIncome Tax Assessment Act 1997.

same business test has the meaning given by Division 3C.

same business test period has the meaning given by sections 160ZNB, 160ZND and 160ZNE and subsection 160ZNSB(5).

shareholding interest has the meaning given by section 175-65 of theIncome Tax Assessment Act 1997.

special company has the same meaning as in theIncome Tax Assessment Act 1997.

substantial continuity of ownership has the meaning given by section 160ZNSG.

substantial shareholding : see part of a substantial shareholding .

superannuation fund has the meaning given by section 10 of theSuperannuation Industry (Supervision) Act 1993.

test period has the meaning given by section 160ZNSB.

test time has the meaning given by sections 160ZNB, 160ZND, 160ZNE and 160ZNSB.

voting share in a company means:

(a) if the company is a body corporate - a voting share as defined by section 9 of the Corporations Law; and

(b) otherwise - a share that would be a voting share as defined by that section if the company were a body corporate.

voting shareholding of less than 1% has the meaning given by section 160ZNSQ.