Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-5
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CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS
Division 165
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Income tax consequences of changing ownership or control of a company
Subdivision 165-D
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Tests for finding out whether the company has maintained the same owners
Rules affecting the operation of the tests
SECTION 165-190
Shares treated as always having carried rights
165-190(1)
In applying a test for the purposes of this Division other than Subdivision 165-CC , *shares are taken to have carried particular rights at all times during a part of the *ownership test period if the Commissioner is satisfied that:
(a) the shares started to carry those rights after the ownership test period; or
(b) the shares will or may start to carry those rights after the ownership test period;
(c) the company's *constitution as in force at some time during the ownership test period; or
(d) an *arrangement entered into before or during the ownership test period. 165-190(2)
In applying a test for the purposes of Subdivision 165-CC , *shares are taken to have carried particular rights after a particular time if the Commissioner is satisfied that:
(a) the shares started to carry those rights after that time; or
(b) the shares will or may start to carry those rights after that time;
(c) the company's *constitution as in force at any time; or
(d) an *arrangement entered into at any time.
In applying a test for the purposes of this Division other than Subdivision 165-CC , *shares are taken to have carried particular rights at all times during a part of the *ownership test period if the Commissioner is satisfied that:
(a) the shares started to carry those rights after the ownership test period; or
(b) the shares will or may start to carry those rights after the ownership test period;
because of:
(c) the company's *constitution as in force at some time during the ownership test period; or
(d) an *arrangement entered into before or during the ownership test period. 165-190(2)
In applying a test for the purposes of Subdivision 165-CC , *shares are taken to have carried particular rights after a particular time if the Commissioner is satisfied that:
(a) the shares started to carry those rights after that time; or
(b) the shares will or may start to carry those rights after that time;
because of:
(c) the company's *constitution as in force at any time; or
(d) an *arrangement entered into at any time.
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