Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 974.95

  (1)   If a * scheme gives rise to an * equity interest in a company because of an item of the table in subsection   974 - 75(1), the equity interest consists of the interest referred to in that item.

  (2)   If 2 or more * related schemes give rise to an * equity interest in a company because of an item of the table in subsection   974 - 75(1), the equity interest consists of the combination of interests under the schemes that satisfy the requirements of that item.

  (3)   Subsection   974 - 80(2) also provides that certain interests are * equity interests in a company.

  (4)   If the returns on a * non - share equity interest in a company are payable to 2 or more entities:

  (a)   each entity is taken to be the holder of a non - share equity interest in the company; and

  (b)   each entity's non - share equity interest consists of the interests that:

  (i)   constitute the non - share equity interest; and

  (ii)   are held by that entity.

  (5)   The company in which an * equity interest exists is taken to be the issuer of the interest.

Table of sections

974 - 100   Treatment of convertible and converting interests

974 - 105   Effect of action taken in relation to interest arising from related schemes

974 - 110   Effect of material change

974 - 112   Determinations by Commissioner