Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 9/30)
Character Range: 7802675–7805650

into.

974‑112  Determinations by Commissioner

Determinations covered by this section
 (1) This section covers a determination by the Commissioner under any of the following provisions:
 (a) subsection 974‑15(4);
 (b) subsection 974‑60(3), (4) or (5);
 (c) section 974‑65;
 (d) subsection 974‑70(4);
 (e) subsection 974‑150(1).

Determination on own initiative or on application
 (2) The Commissioner may make a determination covered by this section:
 (a) on his or her own initiative; or
 (b) on an application made under subsection (3).

Application for determination
 (3) An entity may apply to the Commissioner for a determination covered by this section in relation to:
 (a) an interest of which the entity is the issuer; or
 (b) an interest of which the entity would be the issuer:
 (i) if the determination were made; or
 (ii) if the determination were not made.
Note: Paragraph (b) may apply, for example, if the effect of 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