INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteThis Division has rules that make it easier for the listed public company to satisfy the ownership tests in Division 3CB.
All shareholdings of less than 1% in the company are treated as if they were held by a single notional entity. This means that the company does not have to trace through to the persons who beneficially own those shares.
A similar rule applies if another listed public company is interposed between the company and those persons. All shareholdings of less than 1% in the interposed company are treated as if they were held by a different single notional entity. This means that the company does not have to trace through the interposed company to the persons who beneficially own those shares in the interposed company.
Note 1:
The rules in this Division also apply to a company that is a 100% subsidiary of a listed public company: see section 160ZNSD.
Note 2:
The rules in this Division do not apply if they would hide a failure by the company to maintain the same owners: see sections 160ZNSR and 160ZNSS.
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