Income Tax Assessment Act 1997
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Hide history noteSECTION 727-635 727-635 Splitting an equity or loan interest
If an * equity or loan interest in the * losing entity or in the * gaining entity is split into 2 or more equity or loan interests at or after the * IVS time:
(a) each of the 2 or more interests inherits whatever characteristics would have been relevant to applying this Subdivision to the first interest if the split had not happened; and
(b) those characteristics include characteristics the first interest has inherited because of any other application or applications of this section or section 727-640 ; and
(c) if a characteristic of the first interest involves an amount or quantity, the amount or quantity for that characteristic as inherited by each of the 2 or more interests is a reasonable proportion of the amount or quantity for that characteristic of the first interest.
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