Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 166.1

This Division modifies the way the rules in Division 165 apply to a listed
public company (and also its 100% subsidiaries). It makes it easier for the
company to comply with those rules:
. if the company has maintained the same owners as between certain points of
time, it does not need to prove it has maintained the same owners throughout
the periods in between;
. all shareholdings of less than 1% in the company are treated as if they were
held by a single notional entity so that it is unnecessary to trace through to
the persons who beneficially own those shareholdings;
. the company does not have to trace through any complying superannuation
funds, complying approved deposit funds or special companies that are
interposed between the company and persons who control any of the voting
power, or who have rights to dividends or capital, in the company.

Table of Subdivisions
166-A    Deducting tax losses of earlier income years

166-B    Working out the taxable income and tax loss for the income 
year of the change
166-D    Tests for finding out whether the listed public company has 
maintained the same owners
166-F    How to treat shareholdings of less than 1%

166-G    How to treat interposed superannuation funds, approved 
deposit funds and special companies