New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 16   Demerger relief

Part 2   Dividend relief

Income Tax Assessment Act 1936

3A   Subsection 6(1)

Insert:

demerger allocation means:

(a) the total market value of the allocation represented by the ownership interests issued by the demerged entity in itself under a demerger to the owners of ownership interests in the head entity of the demerger group; or

(b) the total market value of the allocation represented by the ownership interests disposed of by a member of a demerger group under a demerger to the owners of ownership interests in the head entity; or

(c) the total of both of those market values.