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

90   Before section 160AE

Insert:

160ADB Application of Division to non-share dividends

(1) Sections 160AE, 160AEA, 160AF, 160AFA, 160AFAA and 160AFD:

(a) apply to a non-share equity interest in the same way as it applies to a share; and

(b) apply to an equity holder in the same way as it applies to a shareholder; and

(c) apply to a non-share dividend in the same way as it applies to a dividend.

(2) Without limiting subsection (1), paragraph (a) of the definition of passive income in subsection 160AEA(1) applies as if the reference in that paragraph to a dividend (within the meaning of section 6) included a reference to a non-share dividend.