INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 166 - Income tax consequences of changing ownership or control of a widely held or eligible Division 166 company  

Subdivision 166-E - Concessional tracing rules  

SECTION 166-215   What this Subdivision is about  


This Subdivision has rules which make it easier for a widely held or eligible Division 166 company to satisfy the ownership tests in Subdivision 166-D .

Special concessional tracing rules deem entities to hold the following stakes in the company so that the company does not have to trace through to the beneficial owners of the stakes:

  • (a) stakes of less than 10% in the company;
  • (b) stakes of between 10% and 50% that are held by widely held companies;
  • (c) stakes that are held by complying superannuation funds, complying approved deposit funds, special companies and managed investment schemes;
  • (d) stakes in interposed foreign listed companies that are held as bearer shares;
  • (e) stakes in interposed foreign listed companies that are held by depository entities.

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