INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 1 - Interpretation  

SECTION 160APHA   160APHA   DIVIDENDS PAID AS PART OF DIVIDEND STRIPPING OPERATION  
For the purposes of this Part, a dividend paid to a shareholder in a company shall be taken to be a dividend paid as part of a dividend stripping operation if, and only if, the payment of the dividend arose out of, or was made in the course of, a scheme that:

(a) was by way of or in the nature of dividend stripping; or

(b) had substantially the effect of a scheme by way of or in the nature of dividend stripping.