Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:16_45b:p2
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 16 cl 45B (pt 2/3)
Character Range: 478487–481159

ownership interest that has the effect of increasing the value of an ownership interest (which may or may not be the same interest) that is held by the person.
 (6) However, a person is not provided with a capital benefit to the extent that the provision of interests, the distribution or the thing done referred to in subsection (5) involves the person receiving a demerger dividend.
 (7) For the purposes of this section, a non‑share distribution to an equity holder is taken to be the distribution to the equity holder of share capital to the extent to which it is a non‑share capital return.

Meaning of relevant circumstances of scheme
 (8) The relevant circumstances of a scheme include:
 (a) the extent to which the demerger benefit or capital benefit is attributable to capital or the extent to which the demerger benefit or capital benefit is attributable to profits (realised and unrealised) of the company or of an associate (within the meaning in section 318) of the company;
 (b) the pattern of distributions of dividends, bonus shares and returns of capital or share premium by the company or by an associate (within the meaning in section 318) of the company;
 (c) whether the relevant taxpayer has capital losses that, apart from the scheme, would be carried forward to a later year of income;
 (d) whether some or all of the ownership interests in the company or in an associate (within the meaning in section 318) of the company held by the relevant taxpayer were acquired, or are taken to have been acquired, by the relevant taxpayer before 20 September 1985;
 (e) whether the relevant taxpayer is a non‑resident;
 (f) whether the cost base (for the purposes of the Income Tax Assessment Act 1997) of the relevant ownership interest is not substantially less than the value of the applicable demerger benefit or capital benefit;
 (g) whether the relevant taxpayer or an associate (within the meaning in section 318) of the taxpayer is a private company that would not have been entitled to a rebate under section 46F if the taxpayer had been paid an equivalent dividend instead of the demerger benefit or capital benefit;
 (h) if the scheme involves the distribution of share capital or share premium—whether the interest held by the relevant taxpayer after the distribution is the same as the interest would have been if an equivalent dividend had been paid instead of the distribution of share capital or share premium;
 (i) if the scheme involves the provision of ownership interests and the later disposal of those interests, or an increase in the value of ownership interests and the later disposal of those interests:
 (i) the period for which the