INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 167 - Companies whose shares carry unequal rights to dividends, capital distributions or voting power  

Subdivision 167-B - Voting power  

Operative provisions

SECTION 167-85   Different method for working out voting power  

167-85(1)  
An entity may choose whether voting power in the company at a particular time is worked out solely by reference to:


(a) the maximum number of votes that could be cast on a poll on the election of a director of the company, if such a poll were to be held at that time; or


(b) the maximum number of votes that could be cast on a poll on an amendment to the company ' s *constitution, other than an amendment altering:


(i) the rights carried by any of the company ' s *shares; or

(ii) other forms of voting power in the company;
if such a poll were to be held at that time.

167-85(2)  
The way the entity prepares its *income tax return is sufficient evidence of it making a choice under subsection (1).


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.