Income Tax Assessment Act 1936

SCHEDULE 2H - DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS  

Division 326 - DEMUTUALISATION  

 View history note

 Hide history note

History

Div 326 inserted by No 103 of 1999.

Subdivision 326-L - CGT consequences of payment to member of demutualised entity out of accumulated surplus of the entity  

 View history note

 Hide history note

History

Subdiv 326-L inserted by No 103 of 1999.

SECTION 326-225  

326-225   PAYMENT OUT OF ASSETS OF DEMUTUALISED ENTITY THAT IS NOT INCLUDED IN ASSESSABLE INCOME IS TAKEN NOT TO BE A DIVIDEND  

View history reference

If:

(a) a payment out of the assets of a demutualised entity is made to a taxpayer who holds shares or an interest in shares in the entity; and

(b) the amount paid is a dividend that is not included in the taxpayer ' s assessable income;

the payment is taken, for the purposes of section 104-135 of the Income Tax Assessment Act 1997 , not to be the payment of a dividend.

 View history note

 Hide history note

History

S 326-225 amended by No 101 of 2006 , s 3 and Sch 2 item 565, by amending references to repealed inoperative provisions, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 326-225 inserted by No 103 of 1999.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.