Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 7A
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Distributions to entities connected with a private company
If a private company is taken under this Division to have paid a dividend to an entity, the dividend is taken for the purposes of this Act to be paid:
(a) to the entity as a shareholder in the private company; and
(b) out of the private company's profits.
Subdivision F
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General rules applying to all amounts treated as dividends
SECTION 109Z
109Z
CHARACTERISTICS OF DIVIDENDS TAKEN TO BE PAID UNDER THIS DIVISION
If a private company is taken under this Division to have paid a dividend to an entity, the dividend is taken for the purposes of this Act to be paid:
(a) to the entity as a shareholder in the private company; and
(b) out of the private company's profits.
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