Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 725.155

Meaning of down interests , decrease time , up interests and increase time

  (1)   An * equity or loan interest in the target entity is a down interest if a decrease in its * market value is reasonably attributable to the one or more things referred to in paragraph   725 - 145(1)(b), and occurs at or after the time referred to in that paragraph. The time when the decrease happens is called the decrease time for that interest.

  (2)   An * equity or loan interest in the target entity is an up interest if subsection   725 - 145(2) or (3) is satisfied for the interest. The time when the interest is issued at a * discount, or the increase in * market value happens, is called the increase time for that interest.


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