Document ID: chunk:federal_register_of_legislation:C2025C00014:section:45a:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 45A (pt 2/2)
Character Range: 277937–279178

the cost base (for the purposes of Part IIIA) of the relevant share is not substantially less than the value of the applicable capital benefit;
 (d) the shareholder has a net capital loss for the year of income in which this capital benefit is provided;
 (e) the shareholder is a private company who would not have been entitled to a rebate under former section 46F if the shareholder had received the dividend that was paid to the disadvantaged shareholder;
 (f) the shareholder has income tax losses.

Certain capital benefits not covered
 (5) This section does not apply where the capital benefit provided to the advantaged shareholders is the provision of shares and it is reasonable to assume that the disadvantaged shareholders have received, or will receive, fully franked dividends.

Determination limited in certain cases
 (6) If the capital benefit provided to the advantaged shareholders is the provision of shares and it is reasonable to assume that the disadvantaged shareholders have received, or will receive, partly franked dividends, the Commissioner may only make a determination under subsection (2) in relation to so much of the capital benefit as the Commissioner considers relates to the unfranked part of the dividend.