Taxation Laws Amendment (Company Law Review) Act 1998 (63 of 1998)

Schedule 4   Bonus shares

Income Tax Assessment Act 1936

2   Subsection 6BA(3)

Omit "In determining", substitute "If the bonus shares are:

(aa) issued for no consideration and are not a dividend or taken to be a dividend; or

(ab) rebatable under section 46 or 46A;

then for the purposes of this Act (other than section 26AAC), in determining:".