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INCOME TAX ASSESSMENT ACT 1997 - SECT 167.10

When this Subdivision applies

When this Subdivision applies

             (1)  This Subdivision applies in relation to a company if:

                     (a)  as described in the following table, a condition (the unsatisfied condition ) cannot be worked out for the company for a particular period (the test period ); and

                     (b)  at one or more times during the test period:

                              (i)  the c ompany; or

                             (ii)  a company that has a * shareholding interest in it;

                            (an unequally structured company ) has an * unequal share structure.

 

Conditions that can be reconsidered under this Subdivision

Item

Column 1
Each of the following provisions contains a condition:

Column 2

t hat cannot be worked out for:

1

(a) subsection 165-12(3) or (4);

(b) paragraph 165-37(1)(b) or (c);

(c) subsection 165-123(3) or (4);

(d) paragraph 175-10(3)(b) or (c), 175-45(3)(b) or (c) or 175-85(3)(b) or (c);

(e) subparagraph (b)(ii) or (iii) of the definition of eligible Division 166 company in subsection 995-1(1)

a period that is all or part of the period to which that provision relates

Note:          Each of these conditions is about rights to the company's dividends or capital distributions.

             (2)  This Subdivision also applies in relation to a company if:

                     (a)  as described in the following table, a condition (the unsatisfied condition ) cannot be worked out for the company for a particular time (the test time ); and

                     (b)  at the test time, the c ompany, or a company that has a * shareholding interest in it, (an unequally structured company ) has an * unequal share structure.

 

Conditions that can be reconsidered under this Subdivision

Item

Column 1
Each of the following provisions contains a condition:

Column 2
that cannot be worked out for:

1

(a) paragraph 165-115C(1)(b) or (c) or 165-115L(1)(b) or (c);

(b) subparagraph 165-115X(1)(b)(ii) or (iii);

(c) paragraph 165-115Z(1)(b) or (c);

(d) subsection 166-145(3) or (4);

(e) subparagraph 166-175(1)(e)(ii) or (iii);

(f) paragraph 166-225(1)(b) or (c);

(g) subparagraph 166-230(1)(a)(ii) or (iii);

(h) paragraph 166-240(1)(b) or (c);

(i) subparagraph 166-255(1)(e)(ii) or (iii) or 166-260(1)(e)(ii) or (iii);

(j) paragraph 166-260(3)(b) or (c) or 166-270(2)(c);

(k) paragraph 170-260(3)(b) or (c) or 170-265(2)(b) or (c)

a time that is the time, or one of the times, to which that provision relates

Note 1:       Each of these conditions is about rights to the company's dividends or capital distributions.

Note 2:       If a condition cannot be worked out for several of the times to which the provision relates, apply this Subdivision separately for each of those times.

Meaning of unequal share structure

             (3)  A company has an unequal share structure at a particular time if, at that time:

                     (a)  the company's * shares do not all carry the same rights to * dividends, or capital distributions, of the company; or

                     (b)  some or all of the company's shares carry discretionary rights to dividends, or capital distributions, of the company; or

                     (c)  the company is a * co-operative company that has * on issue one or more interests (other than shares) in the company's capital.



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