INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 20 - Changes in majority underlying interests in assets  

Subdivision E - How holdings of shares or units of less than 1% in certain public entities may be treated  

SECTION 160ZZSO   CAPITAL UNITHOLDING AND INCOME UNITHOLDING OF LESS THAN 1%  

160ZZSO(1)   Meaning of capital unitholding of less than 1% .  

If all the units in the head trust, or in an interposed entity that is a publicly traded unit trust, of which an entity is the registered holder at a test time or the base time carry (between them) the rights to receive less than 1% of any distribution of capital of the trust, those units constitute a capital unitholding of less than 1% in the trust at that time.

160ZZSO(2)   Meaning of income unitholding of less than 1% .  

If all the units in the head trust, or in an interposed entity that is a publicly traded unit trust, of which an entity is the registered holder at a test time or the base time carry (between them) the rights to receive less than 1% of any distribution of income of the trust, those units constitute an income unitholding of less than 1% in the trust at that time.