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INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 1 - Interpretation  

SECTION 160APHA  

160APHA  DIVIDENDS PAID AS PART OF DIVIDEND STRIPPING OPERATION  

For the purposes of this Part, a dividend paid to a shareholder in a company shall be taken to be a dividend paid as part of a dividend stripping operation if, and only if, the payment of the dividend arose out of, or was made in the course of, a scheme that:


(a) was by way of or in the nature of dividend stripping; or


(b) had substantially the effect of a scheme by way of or in the nature of dividend stripping.


 



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