INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 197 - Tainted share capital accounts  

Guide to Division 197  

SECTION 197-1   What this Division is about  


This Division:

  • (a) applies to certain amounts transferred to a company ' s share capital account (see Subdivision 197-A ); and
  • (b) provides for a franking debit to arise if such an amount is transferred to the share capital account (see Subdivision 197-B ); and
  • (c) provides for the tainting of the share capital account if such an amount is transferred, for how the account may be untainted, and for consequences that flow from untainting the account (see Subdivision 197-C ).

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