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

99   Subsection 160APHBC(6)

Repeal the subsection, substitute:

(6) A share is a finance share if:

(a) the share is a non-equity share in the company; or

(b) having regard to the rights attached to the share and to any arrangement with respect to the share of which the company is aware, the share is equivalent to a debt owed by the company to the holder of the share.