INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIAA
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FRANKING OF DIVIDENDS
A taxpayer who has held shares, or an interest in shares, in a company on which a dividend is paid is a qualified person in relation to the dividend if:
(a) the shares were issued in connection with a proposed winding up of the company; and
(b) the shares or interest was not disposed of by the taxpayer before the commencement of the winding up; and
(c) neither the taxpayer nor an associate of the taxpayer has made, is under an obligation to make, or is likely to make, a related payment in respect of the dividend.
Division 1A
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Circumstances in which a taxpayer can qualify for a franking credit, a franking rebate or the intercorporate dividend rebate
Subdivision B
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Qualification for franking benefits and intercorporate dividend rebate
SECTION 160APHQ
160APHQ
PERSONS QUALIFIED BY HOLDING SHARES OR INTERESTS IN SHARES WHERE THE SHARES WERE ISSUED IN CONNECTION WITH A WINDING UP
A taxpayer who has held shares, or an interest in shares, in a company on which a dividend is paid is a qualified person in relation to the dividend if:
(a) the shares were issued in connection with a proposed winding up of the company; and
(b) the shares or interest was not disposed of by the taxpayer before the commencement of the winding up; and
(c) neither the taxpayer nor an associate of the taxpayer has made, is under an obligation to make, or is likely to make, a related payment in respect of the dividend.
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