Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 974.30

Issue of equity interest

  (1)   The following do not constitute the provision of a * financial benefit by an entity or a * connected entity of the entity:

  (a)   the issue of an * equity interest in the entity or a connected entity of the entity; or

  (b)   an amount that is to be applied in respect of the issue of an equity interest in the entity or a connected entity of the entity.

Providing a financial benefit to an entity

  (2)   A * financial benefit is taken to be provided to an entity if it is provided:

  (a)   to the entity; or

  (b)   on the entity's behalf; or

  (c)   for the entity's benefit.

Obligation to provide future financial benefit

  (3)   For the avoidance of doubt, if you have a present obligation to provide a * financial benefit to an entity at some time in the future:

  (a)   the financial benefit is taken to be a financial benefit to be provided in the future; and

  (b)   the obligation to provide the financial benefit is taken not to be a financial benefit being provided at the present.