New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 16   Demerger relief

Part 2   Dividend relief

Income Tax Assessment Act 1936

16   Subsection 45D(1)

Repeal the subsection, substitute:

Notice by Commissioner of determination

(1) If the Commissioner makes a determination under section 45A, 45B or 45C, the Commissioner must give a copy of the determination to the company concerned (which, in the case of a demerger benefit referred to in section 45B, is the head entity of the demerger group). The notice may be included in a notice of assessment.

Notice by company of determination

(1A) That company must, in the case of a determination under section 45A or 45B, give a copy of the notice to:

(a) the advantaged shareholder referred to in section 45A; or

(b) the relevant taxpayer referred to in section 45B.