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.