INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 3B - Tests for finding out whether the company has maintained the same owners  

Rules affecting the operation of the tests  

SECTION 160ZNP  

160ZNP   DISREGARD REDEEMABLE SHARES  
For the purposes of a test, a person who beneficially owns redeemable shares at a time during the year of income, is taken not to own the shares beneficially at that time.