Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p25
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 25/46)
Character Range: 3114997–3117662

(2) The company's test period is the period starting at the time that is the reference time for the purposes of Subdivision 165‑CC or section 165‑115L, as the case may be, and ending at each of the following times (the test time):
 (a) the end of the income year in which the reference time occurred;
 (b) the end of a later income year;
 (c) the *end of a *corporate change in the company.
Note 1: See section 165‑255 for the rule about incomplete test periods.
Note 2: See section 166‑175 to work out whether there is a corporate change.

Substantial continuity of ownership
 (3) A changeover time or an alteration time is taken not to have occurred in respect of the company during the test period if there is *substantial continuity of ownership of the company as between the start of the *test period and the *test time.
Note: See section 166‑145 to work out whether there is substantial continuity of ownership.

No substantial continuity of ownership
 (4) Subsections (5) and (6) have effect if there is no *substantial continuity of ownership of the company as between the start of the *test period and the *test time.
 (5) The *test time is taken to have been a changeover time or an alteration time, as the case may be, in respect of the company.
 (6) No other time during the *test period is a changeover time or an alteration time in respect of the company.

166‑90  Companies can choose that this Subdivision is not to apply to them
 (1) The company can choose that Subdivision 165‑CC or 165‑CD is to apply to it in respect of a *test period for the purposes of section 166‑80 without the modifications made by this Subdivision.
 (2) The company must choose on or before the day it lodges its *income tax return for the income year in which the *test period begins, or before a later day if the Commissioner allows.

Subdivision 166‑D—Tests for finding out whether the widely held or eligible Division 166 company has maintained the same owners

Guide to Subdivision 166‑D

166‑135  What this Subdivision is about

      This Subdivision has the tests to work out whether a widely held or eligible Division 166 company has maintained the same owners as between different times. (Subdivision 166‑E has rules which make it easier for the company to satisfy these tests.)
      This Subdivision also defines when there has been a corporate change in the company.

Table of sections

The ownership tests: substantial continuity of ownership
166‑145 The ownership tests: substantial continuity of ownership
166‑165 Relationship with rules in Division 165

Corporate change in a company
166‑175 Corporate change in a company

The ownership tests: substantial