INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 20 - Changes in majority underlying interests in assets  

Subdivision E - How holdings of shares or units of less than 1% in certain public entities may be treated  

SECTION 160ZZSK   160ZZSK   HOLDINGS OF LESS THAN 1% IN PUBLIC COMPANY OR PUBLICLY TRADED UNIT TRUST  
This Subdivision modifies the way in which a public company (the head company ) or a publicly traded unit trust (the head trust ) may determine under subsection 160ZZSA(2) the natural persons who, at a test time or the base time, held underlying interests in:


(a) an asset of the head company if there were at that time:


(i) capital shareholdings of less than 1%; or

(ii) dividend shareholdings of less than 1%;
in the head company; or


(b) an asset of the head trust if there were at that time:


(i) capital unit holdings of less than 1%; or

(ii) income unit holdings of less than 1%;
in the head trust.

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