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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 197.15
Account taken to have ceased to be tainted when old Division 7B was closed off
(1) The company's share capital account is taken to have
ceased to be tainted under old Division 7B at the start of the Division
7B close - off day.
(2) No liability to untainting tax, and no franking debit,
arises under old Division 7B in relation to the share capital account
being taken to have ceased to be tainted.
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