New Business Tax System (Debt and Equity) Act 2001 (163 of 2001)
Schedule 1 Debt and equity interests
Part 2 Amendment of the Income Tax Assessment Act 1936
Income Tax Assessment Act 1936
114 Subsection 245-25(4) in Schedule 2C
Repeal the subsection, substitute:
(4) A non-equity share issued by a company is taken to be a commercial debt owed by the company to the shareholder.
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