Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 167.10

When this Subdivision applies

  (1)   This Subdivision applies in relation to a company if:

  (a)   as described in the following table, a condition (the unsatisfied condition ) cannot be worked out for the company for a particular period (the test period ); and

  (b)   at one or more times during the test period:

  (i)   the company; or

  (ii)   a company that has a * shareholding interest in it;

    (an unequally structured company ) has an * unequal share structure.

 

Conditions that can be reconsidered under this Subdivision
Item	Column 1 Each of the following provisions contains a condition:	Column 2 that cannot be worked out for:
1	(a) subsection   165 - 12(3) or (4); (b) paragraph   165 - 37(1)(b) or (c); (c) subsection   165 - 123(3) or (4); (d) paragraph   175 - 10(3)(b) or (c), 175 - 45(3)(b) or (c) or 175 - 85(3)(b) or (c); (e) subparagraph   (b)(ii) or (iii) of the definition of eligible Division   166 company in subsection   995 - 1(1)	a period that is all or part of the period to which that provision relates

Note:   Each of these conditions is about rights to the company's dividends or capital distributions.

  (2)   This Subdivision also applies in relation to a company if:

  (a)   as described in the following table, a condition (the unsatisfied condition ) cannot be worked out for the company for a particular time (the test time ); and

  (b)   at the test time, the company, or a company that has a * shareholding interest in it, (an unequally structured company ) has an * unequal share structure.

 

Conditions that can be reconsidered under this Subdivision
Item	Column 1 Each of the following provisions contains a condition:	Column 2 that cannot be worked out for:
1	(a) paragraph   165 - 115C(1)(b) or (c) or 165 - 115L(1)(b) or (c); (b) subparagraph   165 - 115X(1)(b)(ii) or (iii); (c) paragraph   165 - 115Z(1)(b) or (c); (d) subsection   166 - 145(3) or (4); (e) subparagraph   166 - 175(1)(e)(ii) or (iii); (f) paragraph   166 - 225(1)(b) or (c); (g) subparagraph   166 - 230(1)(a)(ii) or (iii); (h) paragraph   166 - 240(1)(b) or (c); (i) subparagraph   166 - 255(1)(e)(ii) or (iii) or 166 - 260(1)(e)(ii) or (iii); (j) paragraph   166 - 260(3)(b) or (c) or 166 - 270(2)(c); (k) paragraph   170 - 260(3)(b) or (c) or 170 - 265(2)(b) or (c)	a time that is the time, or one of the times, to which that provision relates

Note 1:   Each of these conditions is about rights to the company's dividends or capital distributions.

Note 2:   If a condition cannot be worked out for several of the times to which the provision relates, apply this Subdivision separately for each of those times.

Meaning of unequal share structure

  (3)   A company has an unequal share structure at a particular time if, at that time:

  (a)   the company's * shares do not all carry the same rights to * dividends, or capital distributions, of the company; or

  (b)   some or all of the company's shares carry discretionary rights to dividends, or capital distributions, of the company; or

  (c)   the company is a * co - operative company that has * on issue one or more interests (other than shares) in the company's capital.