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

Schedule 5   Definitional changes

Income Tax Assessment Act 1936

3   Subsection 6(1)

Insert:

paid-up share capital of a company means the amount standing to the credit of the company's share capital account reduced by:

(a) the amount (if any) that represents amounts unpaid on shares; and

(b) the tainting amount (if any).