New Business Tax System (Debt and Equity) Act 2001 (163 of 2001)

Schedule 1   Debt and equity interests

Part 2   Amendment of the Income Tax Assessment Act 1936

Income Tax Assessment Act 1936

58   After subsection 45A(3)

Insert:

(3A) For the purposes of this section, a non-share distribution to an equity holder is taken to be the distribution to the equity holder of share capital to the extent to which it is a non-share capital return.