INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 19A - Transfers of assets between companies under common ownership  

Subdivision C - Grouped assets  

SECTION 160ZZRDI   SHARES OR LOANS CREATED AFTER FIRST ASSET IN GROUP IS DISPOSED OF  

160ZZRDI(1)   [Application of section]  

This section applies if a share in the transferor, or a loan to the transferor, comes into existence after the first time (the adjustment time ) in a year of income at which an asset in the group is disposed of by the transferor but before the last time in the year of income at which such an asset is actually disposed of.

160ZZRDI(2)   [Share issued to replace cancelled share]  

This section does not apply to a share that is issued to replace a share that is, or is to be, cancelled.

160ZZRDI(3)   [Attributes of share or loan]  

This Division applies as if:

(a) the share or loan had been in existence immediately before the adjustment time; and

(b) the share or loan had all the same attributes at that time as it had immediately after it came into existence.