Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 8/11)
Character Range: 5244072–5246534

that time; and
 (d) neither you nor the company is an *affiliate of each other at that time; and
 (e) the issue of those shares is not an *acquisition of *ESS interests under an *employee share scheme; and
 (f) immediately after the issue of those shares, you do not hold equity interests in the company, or in an entity *connected with the company, that carry the right to:
 (i) receive more than 30% of any distribution of income by the company or the entity; or
 (ii) receive more than 30% of any distribution of capital by the company or the entity; or
 (iii) exercise, or control the exercise of, more than 30% of the total voting power in the company or the entity.

Members of trusts or partnerships
 (2) A *member of a trust or partnership (other than a partnership that is an *ESVCLP) at the end of an income year is entitled to a *tax offset for the income year if:
 (a) the trust or partnership would be entitled to a tax offset, under this section, for the income year if the trust or partnership were an individual; and
 (b) the member is not a *widely held company or a *100% subsidiary of a widely held company.

Trustees
 (3) A trustee of a trust is entitled to a *tax offset for an income year if:
 (a) the trustee would be entitled to a tax offset, under subsection (1), for the income year if the trustee were an individual; and
 (b) the trustee is liable to be assessed or has been assessed, and is liable to pay *tax, on a share of, or all or a part of, the trust's *net income under section 98, 99 or 99A of the Income Tax Assessment Act 1936 for the income year.

360‑20  Limited entitlement for certain kinds of investors
 (1) You do not satisfy paragraph 360‑15(1)(b) if:
 (a) for each offer resulting in *equity interests that are *shares in the company being issued to you during the income year, none of subsections 708(8), (10) or (11) of the Corporations Act 2001 removed the need for a disclosure document; and
 (b) a total of more than $50,000 was paid for the issue to you of the shares resulting from all of those offers.
 (2) For the purposes of this section, assume that Chapter 6D of the Corporations Act 2001 applies to those offers.

360‑25  Amount of the tax offset—general case
 (1) If subsection 360‑15(1) applies, the amount of your *tax offset is 20% of the sum of the following:
 (a) an amount equal to any money received, or entitled to be received, by the company referred to in paragraph 360‑15(1)(b) for the issue