Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 719.460

Assumptions about nothing happening to affect direct and indirect ownership of the test company

             (1)  This section sets out an assumption that must be made whenever there is a change in the identity of the * top company for the * MEC group during the * ownership test period.

             (2)  Assume that after the change nothing happens in relation to * membership interests or voting power in the following entities that would affect whether the test company would meet the conditions in section 165-123:

                     (a)  the company that was the * top company for the * MEC group before the change;

                     (b)  an entity (if any) that at the time of the change was interposed between:

                              (i)  the company that was the top company for the MEC group before the change; and

                             (ii)  the company that became the top company for the MEC group as part of the change.



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