Income Tax Assessment Act 1936
SCHEDULE 2H
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DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS
Division 326
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DEMUTUALISATION
Subdivision 326-E
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CGT consequences of disposal of demutualisation shares or interests in such shares by a member of a mutual entity where the entity or a holding company of the entity becomes a company that is not a listed public company
SECTION 326-135
APPLICATION OF SUBDIVISION
326-135(1)
This Subdivision applies where a member (the disposer ) of a mutual entity which, or a holding company of which, becomes a company that is not a listed public company disposes of an asset consisting of:
(a) a demutualisation share in that company that is not a listed public company or an interest in such a share; or
(b) other shares ( non-demutualisation bonus shares ) in the same company, or an interest in such shares, where the shares are bonus equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original equities mentioned in that Subdivision.
326-135(2)
For the purposes of this Subdivision, if any of the original equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 , is a demutualisation share, it is called a demutualisation original share .
View history note
Hide history noteThis Subdivision applies where a member (the disposer ) of a mutual entity which, or a holding company of which, becomes a company that is not a listed public company disposes of an asset consisting of:
(a) a demutualisation share in that company that is not a listed public company or an interest in such a share; or
(b) other shares ( non-demutualisation bonus shares ) in the same company, or an interest in such shares, where the shares are bonus equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original equities mentioned in that Subdivision.
326-135(2)
For the purposes of this Subdivision, if any of the original equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 , is a demutualisation share, it is called a demutualisation original share .