• Specific Year
    Any

INCOME TAX ASSESSMENT ACT 1936 - SECT 327 Eligible finance shares

INCOME TAX ASSESSMENT ACT 1936 - SECT 327

Eligible finance shares

    For the purposes of this Part, a share in a company is an eligible finance share if all the following conditions are satisfied:

  (a)   the shareholder is an AFI or an AFI subsidiary;

  (b)   the share was issued to the shareholder by the company in the ordinary course of business carried on by the shareholder;

  (c)   the shareholder is not an associate of the company;

  (d)   having regard to:

  (i)   the manner in which the amount of dividends in respect of the share are to be calculated; and

  (ii)   the conditions applicable to the payment of dividends in respect of the share; and

  (iii)   any other relevant matters;

    the payment of the dividends in respect of the share may reasonably be regarded as equivalent to the payment of interest on a loan where the interest accrues at intervals not exceeding 12 months and is paid not later than 12 months after it accrues.

Download

No downloadable files available