INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 3CC - How to treat shareholdings of less than 1%  

When the rules in this Division do not apply  

SECTION 160ZNSR  

160ZNSR   LIMIT ON LISTED PUBLIC COMPANY SPLITTING ITS SHARES INTO DIFFERENT CLASSES  
This Division does not apply unless, at the ownership test time, all the voting shares in the head company carry (between them):

(a) the right to receive more than 75% of any dividends the head company may pay; and

(b) the right to receive more than 75% of any distributions of capital of the head company.