Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES  

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History

Part 3-32 inserted by No 97 of 2008 , s 3 and Sch 1 item 11, applicable in relation to demutualisations occurring on and after 1 July 2007.

Division 316 - Demutualisation of friendly society health or life insurers  

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Div 316 inserted by No 88 of 2009, s 3 and Sch 3 item 1, effective 18 September 2009.

Subdivision 316-C - Cost base of shares and rights issued under the demutualisation  

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History

Subdiv 316-C inserted by No 88 of 2009, s 3 and Sch 3 item 1, effective 18 September 2009.

Guide to Subdivision 316-C

SECTION 316-100   What this Subdivision is about  

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The value of the friendly society and its business affects cost bases of shares and certain rights issued under the demutualisation to:

(a) entities that are or were members of the friendly society; or

(b) entities insured through the society or its subsidiaries; or

(c) successors of such entities; or

(d) the trustee of the lost policy holders trust.

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S 316-100 inserted by No 88 of 2009, s 3 and Sch 3 item 1, effective 18 September 2009.

TABLE OF SECTIONS

TABLE OF SECTIONS

316-105	Cost base and time of acquisition of shares and certain rights issued under demutualisation
316-110	Demutualisation assets
316-115	Entities to which section 316-105 applies

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