Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 166.215

What this Subdivision is about

This Subdivision has rules which make it easier for a widely held or eligible Division 166 company to satisfy the ownership tests in Subdivision 166-D.

Special concessional tracing rules deem entities to hold the following stakes in the company so that the company does not have to trace through to the beneficial owners of the stakes:

               (a)     stakes of less than 10% in the company;

              (b)     stakes of between 10% and 50% that are held by widely held companies;

               (c)     stakes that are held by complying superannuation funds, complying approved deposit funds, special companies and managed investment schemes;

              (d)     stakes in interposed foreign listed companies that are held as bearer shares;

               (e)     stakes in interposed foreign listed companies that are held by depository entities.

Table of sections

Application of this Subdivision

166-220    Application of this Subdivision

Stakes of less than 10% in the tested company

166-225    Direct stakes of less than 10% in the tested company

166-230    Indirect stakes of less than 10% in the tested company

166-235    Voting, dividend and capital stakes

Stakes held directly and/or indirectly by widely held companies

166-240    Stakes held directly and/or indirectly by widely held companies

166-245    Stakes held by other entities

When identity of foreign stakeholders is not known

166-255    Bearer shares in foreign listed companies

166-260    Depository entities holding stakes in foreign listed companies

Other rules relating to voting power and rights

166-265    Persons who actually control voting power or have rights are taken not to control power or have rights

166-270    Single notional entity stakeholders taken to have minimum voting control, dividend rights and capital rights

166-272    Same shares or interests to be held

When the rules in this Subdivision do not apply

166-275    Rules in this Subdivision intended to be concessional

166-280    Controlled test companies

Application of this Subdivision



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