Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gzzzn
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GZZZN
Character Range: 1465504–1466141

159GZZZN  Buy‑back and cancellation disregarded for certain purposes
  If a company buys‑back a share then the buy‑back, and any subsequent cancellation of the share, are disregarded for the purposes of:
 (a) determining for the purposes of this Act:
 (i) whether an amount is included in the assessable income of the company under a provision of this Act (other than a provision of Part 3‑1 or 3‑3 of the Income Tax Assessment Act 1997 (about CGT)); or
 (ii) whether an amount is allowable as a deduction to the company; or
 (b) determining whether the company makes a capital gain or capital loss.

Subdivision C—Off‑market purchases