INCOME TAX ASSESSMENT ACT 1936 - SECT 109NA Certain liquidator's distributions and loans not treated as dividends
INCOME TAX ASSESSMENT ACT 1936 - SECT 109NA
Certain liquidator's distributions and loans not treated as dividendsA private company is not taken under section 109C or subsection 109D(1) to pay a dividend because of a distribution or loan made in the course of the winding - up of the company by a liquidator.
Note: However, if such a loan is not fully repaid by the end of the
following year of income, the company will be taken to have paid a dividend
under subsection 109D(1A).