Income Tax Assessment Act 1997
Div 197 inserted by No 80 of 2006, s 3 and Sch 4 item 1, effective 30 June 2006.
Subdiv 197-A inserted by No 80 of 2006, s 3 and Sch 4 item 1, effective 30 June 2006.
Subject to subsection (2), this Division applies to an amount (the transferred amount ) that is transferred to a company ' s *share capital account from another of the company ' s accounts, if the company was an Australian resident immediately before the time of the transfer.
Note: If a company has 2 or more share capital accounts, those accounts are taken to be a single account (see subsection 975-300(2) ).197-5(2)
The other provisions of this Subdivision may stop this Division from applying to some or all of the transferred amount. If those other provisions stop this Division from applying to only some of the transferred amount, this Division (other than this Subdivision) applies to the balance of the transferred amount as if only that balance of the amount had been transferred to the company ' s *share capital account.
S 197-5 inserted by No 80 of 2006, s 3 and Sch 4 item 1, effective 30 June 2006.
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