Income Tax Assessment Act 1936
SCHEDULE 2H
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DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS
Division 326
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DEMUTUALISATION
This Subdivision applies where a member (the disposer ) of a mutual entity which, or a holding company of which, becomes a company that is not a listed public company disposes of an asset consisting of:
(a) a demutualisation share in that company that is not a listed public company or an interest in such a share; or
(b) other shares ( non-demutualisation bonus shares ) in the same company, or an interest in such shares, where the shares are bonus equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original equities mentioned in that Subdivision.
For the purposes of this Subdivision, if any of the original equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 , is a demutualisation share, it is called a demutualisation original share .
Subdivision 326-E
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CGT consequences of disposal of demutualisation shares or interests in such shares by a member of a mutual entity where the entity or a holding company of the entity becomes a company that is not a listed public company
SECTION 326-135
APPLICATION OF SUBDIVISION
326-135(1)
This Subdivision applies where a member (the disposer ) of a mutual entity which, or a holding company of which, becomes a company that is not a listed public company disposes of an asset consisting of:
(a) a demutualisation share in that company that is not a listed public company or an interest in such a share; or
(b) other shares ( non-demutualisation bonus shares ) in the same company, or an interest in such shares, where the shares are bonus equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original equities mentioned in that Subdivision.
326-135(2)
For the purposes of this Subdivision, if any of the original equities mentioned in Subdivision 130-A of the Income Tax Assessment Act 1997 , is a demutualisation share, it is called a demutualisation original share .
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