Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 360.20

  (1)   You do not satisfy paragraph   360 - 15(1)(b) if:

  (a)   for each offer resulting in * equity interests that are * shares in the company being issued to you during the income year, none of subsections   708(8), (10) or (11) of the Corporations Act 2001 removed the need for a disclosure document; and

  (b)   a total of more than $50,000 was paid for the issue to you of the shares resulting from all of those offers.

  (2)   For the purposes of this section, assume that Chapter   6D of the Corporations Act 2001 applies to those offers.