Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)
Schedule 1 Loss recoupment rules for companies etc.
Income Tax Assessment Act 1997
159 Subsection 995-1(1)
Insert:
principal class of shares in a company means:
(a) those ordinary or common shares of the company that represent the majority of the voting power and value of the company; or
(b) if no single class of ordinary or common shares represents the majority of the voting power and value of the company - those classes of ordinary or common shares that represent the majority of the voting power and value of the company.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
