Document ID: chunk:federal_register_of_legislation:C2004A00898:clause:1_4:p7
Version: federal_register_of_legislation:C2004A00898
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 7/12)
Character Range: 70955–73868

the determination applied for would be to allow, or to prevent, a number of related schemes giving rise to a debt interest or an equity interest.

 (4) The application:
 (a) must be in writing; and
 (b) must set out the grounds on which the applicant thinks the determination should be made; and
 (c) must set out any information relevant to deciding whether to make the determination.

Review of determinations

 (5) A taxpayer who is dissatisfied with a determination covered by this section may object against the determination in the manner set out in Part IVC of the Taxation Administration Act 1953.

Subdivision 974‑E—Non‑share distributions by a company

Table of sections

974‑115 Meaning of non‑share distribution
974‑120 Meaning of non‑share dividend
974‑125 Meaning of non‑share capital return

974‑115  Meaning of non‑share distribution

  A company makes a non‑share distribution to you if:
 (a) you hold a *non‑share equity interest in the company; and
 (b) the company:
 (i) distributes money to you; or
 (ii) distributes other property to you; or
 (iii) credits an amount to you;
  as the holder of that interest.

974‑120  Meaning of non‑share dividend

 (1) Subject to subsection (2), all *non‑share distributions are non‑share dividends.

 (2) A *non‑share distribution is not a non‑share dividend to the extent to which the company debits the distribution against:
 (a) the company's *non‑share capital account; or
 (b) the company's share capital account.

974‑125  Meaning of non‑share capital return

  A non‑share capital return is a *non‑share distribution to the extent to which it is not a *non‑share dividend.

Subdivision 974‑F—Related concepts

Table of sections

974‑130 Financing arrangement
974‑135 Effectively non‑contingent obligation
974‑140 Ordinary debt interest
974‑145 Benchmark rate of return
974‑150 Schemes
974‑155 Related schemes
974‑160 Financial benefit
974‑165 Convertible and converting interests

974‑130  Financing arrangement

 (1) A *scheme is a financing arrangement for an entity if it is entered into or undertaken:
 (a) to raise finance for the entity (or a *connected entity of the entity); or
 (b) to fund another scheme, or a part of another scheme, that is a *financing arrangement under paragraph (a); or
 (c) to fund a return, or a part of a return, payable under or provided by or under another scheme, or a part of another scheme, that is a financing arrangement under paragraph (a).

 (2) The following are examples of *schemes that are generally entered into or undertaken to raise finance:
 (a) a bill of exchange;
 (b) income securities;
 (c) a *convertible interest that will convert into an *equity interest.

Note: Paragraph (a) is likely to be relevant for debt interests, paragraph (b) for equity interests and paragraph (c) for both.

 (3) The following are examples of *schemes that are generally not entered into or undertaken to