Document ID: chunk:federal_register_of_legislation:C2010C00578:clause:2_34
Version: federal_register_of_legislation:C2010C00578
Segment Type: clause
Provision Reference: sch 2 cl 34
Character Range: 50209–50965

34  Subsection 995‑1(1) (definition of on issue)
Repeal the definition, substitute:

on issue:
 (a) a *debt interest is on issue as provided in paragraph 974‑55(1)(e); and
 (b) an *equity interest in an entity:
 (i) is on issue from when it is issued until it stops being on issue because of subparagraph (ii); and
 (ii) stops being on issue when, for reasons other than the economic performance of the entity (or of a *connected entity of the entity), there is no longer a reasonable likelihood that a substantial *financial benefit will be provided in respect of the interest under the *scheme, or under any of the schemes, that give rise to the interest.

Part 4—Adjusted average equity capital for grouping purposes

Income Tax Assessment Act 1997