Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 165 - Income tax consequences of changing ownership or control of a company  

Subdivision 165-D - Tests for finding out whether the company has maintained the same owners  

Rules affecting the operation of the tests

SECTION 165-180   Arrangements affecting beneficial ownership of shares  

165-180(1)    

View history reference

For the purposes of a test, the Commissioner may treat a person as not having beneficially owned particular *shares at a particular time if the conditions in subsections (2) and (3) are met.

Example:

The Commissioner may treat a person as not having beneficially owned redeemable shares at a particular time if the conditions in subsections (2) and (3) are met in respect of those shares.

 View history note

 Hide history note

History

S 165-180(1) amended by No 147 of 2005, s 3 and Sch 1 item 68, by inserting the example at the end, effective 14 December 2005. For application provision, see note under Div 166 heading.

S 165-180(1) substituted by No 169 of 1999.

165-180(2)    

View history reference

An *arrangement must have been entered into at some time that in any way (directly or indirectly) related to, affected, or depended for its operation on:

(a) the beneficial interest in the *shares, or the value of that beneficial interest; or

(b) a right carried by, or relating to, the shares; or

View history reference

(c) the exercise of such a right.

 View history note

 Hide history note

History

S 165-180(2) amended by No 114 of 2000 and No 169 of 1999.

165-180(3)    

View history reference

The *arrangement must also have been entered into for the purpose, or for purposes including the purpose, of eliminating or reducing a liability of an entity to pay income tax for a *financial year.

 View history note

 Hide history note

History

S 165-180(3) amended by No 114 of 2000.

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.