Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 960 - General  

Subdivision 960-F - Distribution by corporate tax entities  

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History

Subdiv 960-F inserted by No 162 of 2001.

SECTION 960-120   Meaning of distribution  

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960-120(1)    

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What constitutes a distribution by various *corporate tax entities is set out in the following table:

(Table: Distribution)

(Table: Distribution)

Distribution
Item	Corporate tax entity	Distribution
1	company	a dividend, or something that is taken to be a dividend, under this Act
2	*corporate limited partnership	(a)	a distribution made by the partnership, whether in money or in other property, to a partner in the partnership, other than a distribution, or so much of a distribution, as is attributable to profits or gains arising during an income year in relation to which the partnership was not a corporate limited partnership
		(b)	something that is taken to be a dividend by the partnership under this Act
3	(Repealed by No 53 of 2016)
4	*public trading trust	a unit trust dividend, as defined in section 102M of the Income Tax Assessment Act 1936

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S 960-120(1) amended by No 53 of 2016, s 3 and Sch 5 item 61, by repealing table item 3, applicable to assessments for income years starting on or after 1 July 2016. For transitional provision, see note under s 295-173 . Table item 3 formerly read:

3

*corporate unit trust

a unit trust dividend, as defined in subsection 102D(1) of the Income Tax Assessment Act 1936

S 960-120(1) amended by No 97 of 2008 , s 3 and Sch 3 item 159, by substituting " an income year " for " a year of income " in table item 2, effective 3 October 2008.

960-120(2)    
A *corporate tax entity makes a distribution in the form of a dividend on the day on which the dividend is paid, or taken to have been paid.

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History

S 960-120 inserted by No 162 of 2001.

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