Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 166.25

(1) If the *listed public company must calculate its taxable income and *tax
loss for the income year under Subdivision 165-B, then, in dividing the income
year into periods, apply subsection (2) instead of subsection 165- 45(3).

(2) The last period ends at the end of the income year. Each period (except
the last) ends at the earlier of:

   (a)  the earliest time when there is an *abnormal trading in *shares in the
        *listed public company (except one covered by subsection (3)); or

   (b)  the earliest time when a person begins to control, or becomes able to
        control, the voting power in the *listed public company (whether
        directly, or indirectly through one or more interposed entities) for
        the purpose, or for purposes including the purpose, of:

        (i)    getting some benefit or advantage to do with how this Act
               applies; or

        (ii)   getting such a benefit or advantage for someone else.

(3) In working out when a period ends, disregard an *abnormal trading if there
is *substantial continuity of ownership of the company as between the start of
the period and the time of the abnormal trading. See section 166-145 to work
out whether there is substantial continuity of ownership.