Taxation Laws Amendment (Company Law Review) Act 1998 (63 of 1998)
Schedule 2 Tainting rule
Income Tax Assessment Act 1936
9 Transitional - merging of share capital account and share premium account
A company's share capital account does not become tainted under Division 7B of Part IIIAA of the Income Tax Assessment Act 1936 merely because an amount standing to the credit of the company's share premium account (within the meaning of that Act) or capital redemption reserve becomes part of the company's share capital under Schedule 5 to the Company Law Review Act 1998.
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