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INCOME TAX ASSESSMENT ACT 1997 - SECT 197.1

What this Division is about

This Division:

  (a)   applies to certain amounts transferred to a company's share capital account (see Subdivision   197 - A); and

  (b)   provides for a franking debit to arise if such an amount is transferred to the share capital account (see Subdivision   197 - B); and

  (c)   provides for the tainting of the share capital account if such an amount is transferred, for how the account may be untainted, and for consequences that flow from untainting the account (see Subdivision   197 - C).

Table of sections

197 - 5   Division generally applies to an amount transferred to share capital account from another account

197 - 10   Exclusion for amounts that could be identified as share capital

197 - 15   Exclusion for amounts transferred under debt/equity swaps

197 - 20   Exclusion for amounts transferred leading to there being no shares with a par value--non - Corporations Act companies

197 - 25   Exclusion for transfers from option premium reserves

197 - 30   Exclusion for transfers made in connection with demutualisations of non - insurance etc. companies

197 - 35   Exclusion for transfers made in connection with demutualisations of insurance etc. companies

197 - 37   Exclusion for transfers made in connection with demutualisations of private health insurers

197 - 38   Exclusion for transfers connected with demutualisations of friendly society health or life insurers

197 - 40   Exclusion for post - demutualisation transfers relating to life insurance companies

197 - 42   Exclusion for exploration credits


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