Tax Law Improvement Act (No. 1) 1998 (46 of 1998)
10 Amendment of Chapter 6 (the Dictionary) of the Income Tax Assessment Act 1997
55 Subsection 995-1(1)
Insert:
discount: *shares in a company or units in a unit trust are issued at a discount if the amount of the payment the company or trustee receives for the issue is less than the market value of the shares or units at the time of issue. (The payment can include a transfer of property: see section 103-5).
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