Income Tax Assessment Act 1936 (Archive)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 20 - Changes in majority underlying interests in assets  

Subdivision E - How holdings of shares or units of less than 1% in certain public entities may be treated  

SECTION 160ZZSN   CAPITAL SHAREHOLDING AND DIVIDEND SHAREHOLDING OF LESS THAN 1%  

160ZZSN(1)   Meaning of capital shareholding of less than 1% .  

If all the shares in the head company, or in an interposed entity that is a public company, of which an entity is the registered holder at a test time or the base time carry (between them) the right to receive less than 1% of any distribution of capital of the company, those shares (except shares that are part of a substantial shareholding) constitute a capital shareholding of less than 1% in the company at that time.

160ZZSN(2)   Meaning of dividend shareholding of less than 1% .  

If all the shares in the head company, or in an interposed entity that is a public company, of which an entity is the registered holder at a test time or the base time carry (between them) the right to receive less than 1% of any dividends that the company may pay, those shares (except shares that are part of a substantial shareholding) constitute a dividend shareholding of less than 1% in the company at that time.