INCOME TAX ASSESSMENT ACT 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 960 - General  

Subdivision 960-F - Distribution by corporate tax entities  

SECTION 960-120   Meaning of distribution  

960-120(1)  


What constitutes a distribution by various *corporate tax entities is set out in the following table:


[ Table: Distribution]
[ Table: Distribution]
Distribution
Item Corporate tax entity Distribution
1 company a dividend, or something that is taken to be a dividend, under this Act
2 *corporate limited partnership (a) a distribution made by the partnership, whether in money or in other property, to a partner in the partnership, other than a distribution, or so much of a distribution, as is attributable to profits or gains arising during an income year in relation to which the partnership was not a corporate limited partnership
(b) something that is taken to be a dividend by the partnership under this Act
3 (Repealed by No 53 of 2016)
4 *public trading trust a unit trust dividend, as defined in section 102M of the Income Tax Assessment Act 1936

960-120(2)  
A *corporate tax entity makes a distribution in the form of a dividend on the day on which the dividend is paid, or taken to have been paid.


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