Income Tax Assessment Act 1997



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  

Other rules relating to voting power and rights

SECTION 166-265   166-265   Persons who actually control voting power or have rights are taken not to control power or have rights  

If any of sections 166-225 , 166-230 , 166-240 , 166-245 , 166-255 or 166-260 apply, the ownership tests in section 166-145 are also applied to the tested company as if, at the *ownership test time:

(a) the persons who control, or are able to control, the voting power in the tested company (whether directly, or indirectly through one or more interposed entities) that is carried by each *voting stake in the tested company mentioned in that section had not had that control; and

(b) the persons who have the right to receive for their own benefit (whether directly, or *indirectly through one or more interposed entities):

(i) any *dividends that the tested company may pay in respect of each *dividend stake in the tested company mentioned in that section; and

(ii) any distributions of capital of the tested company in respect of each *capital stake in the tested company mentioned in that section;
had not had that right.


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