Income Tax Assessment Act 1936

S 6D inserted by No 143 of 2007 , s 3 and Sch 1 item 28, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after 24 September 2007. For savings provisions, see note under s 559A .

Former s 6D repealed by No 80 of 2006 , s 3 and Sch 4 item 22, applicable for the purpose of determining whether an account is a share capital account when applying a provision of the Income Tax Assessment Act 1997 or the Income Tax Assessment Act 1936 in relation to a time that is after 30 June 2006, even if the account was in existence before that date. S 6D formerly read:

SECTION 6D MEANING OF SHARE CAPITAL ACCOUNT  
6D(1) [Definition]  

A share capital account is:

(a) an account which the company keeps of its share capital; or

(b) any other account (whether or not called a share capital account), created on or after 1 July 1998, where the first amount credited to the account was an amount of share capital.

6D(2) [More than one account]  

If a company has more than one account covered by subsection (1), the accounts are taken, for the purposes of this Act, to be a single account.

Note:

Because the accounts are taken to be a single account (the combined share capital account ) tainting any of the accounts has the effect of tainting the combined share capital account.

6D(3) [Tainted account]  

However, an account that is tainted for the purposes of Division 7B of Part IIIAA is not a share capital account for the purposes of this Act other than for the purposes of:

(a) the definition of paid-up share capital in subsection 6(1) ; and

(b) subsection 44(1B) ; and

(c) section 46H ; and

(d) subsection 159GZZZQ(5) ; and

(e) Division 7B of Part IIIAA ; and

(f) subsection 160ZA(7A) .

S 6D inserted by No 117 of 1999.

Former s 6D repealed by No 107 of 1989, amended by No 108 of 1981, No 165 and 51 of 1973, and inserted by No 46 of 1972.