Income Tax Assessment Act 1997
View history note
Hide history noteThe main object of this Part is to allow certain *corporate tax entities to pass to their *members the benefit of having paid income tax on the profits underlying certain *distributions.
201-1(2)
The other objects of this Part are to ensure that:
(a) the imputation system is not used to give the benefit of income tax paid by a *corporate tax entity to *members who do not have a sufficient economic interest in the entity; and
(b) the imputation system is not used to prefer some members over others when passing on the benefits of having paid income tax; and
(c) the *membership of a corporate tax entity is not manipulated to create either of the outcomes mentioned in paragraphs (a) and (b).
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