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, under the distributing trust method of demutualisation of a mutual entity, the rights attaching to special shares issued to a trustee on behalf of a member become the same as the rights attaching to ordinary shares. 326-215(2)
Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 do not apply in respect of the change in rights.
Subdivision 326-J
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CGT consequences of change in rights attaching to special shares or replacement of special shares by ordinary shares
SECTION 326-215
CHANGE OF RIGHTS TO, AND REPLACEMENT OF, SPECIAL SHARES
326-215(1)
This Subdivision applies where, under the distributing trust method of demutualisation of a mutual entity, the rights attaching to special shares issued to a trustee on behalf of a member become the same as the rights attaching to ordinary shares. 326-215(2)
Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 do not apply in respect of the change in rights.
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