Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:13_5:p6
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 13 cl 5 (pt 6/7)
Character Range: 184951–187775

are ordinary shares or are preference shares to which are attached substantially the same rights as are attached to ordinary shares; and
 (c) immediately after the acquisition of the shares:
 (i) the person does not hold a legal or beneficial interest in more than 5% of the shares in the company; and
 (ii) the person is not in a position to control, or control the casting of, more than 5% of the maximum number of votes that might be cast at a general meeting of the company; and
 (d) the share is not a *non‑equity share.

Subdivision 208‑H—Tax effect of a distribution franked with an exempting credit

Guide to Subdivision 208‑H

208‑220  What this Subdivision is about
      Generally, a distribution franked with an exempting credit will only generate a tax effect for the recipient under Division 207 if a tax effect would have been generated for the recipient had the recipient received a franked distribution when the distributing entity was an exempting entity.

Table of sections

Operative provisions
208‑225 Division 207 does not generally apply
208‑230 Distributions to exempting entities and former exempting entities
208‑235 Distributions to employees acquiring shares under an eligible employee share scheme
208‑240 Distributions to certain individuals
[This is the end of the Guide.]

Operative provisions

208‑225  Division 207 does not generally apply
  Division 207 does not apply to a *distribution *franked with an exempting credit, unless the Division is expressly applied to the distribution under this Subdivision.

208‑230  Distributions to exempting entities and former exempting entities
  Division 207 applies to a *distribution *franked with an exempting credit by a *former exempting entity as if it were a *franked distribution if:
 (a) the recipient of the distribution is a former exempting entity and the distribution gives rise to an *exempting credit for the recipient; or
 (b) the recipient of the distribution is an *exempting entity and the distribution gives rise to a *franking credit for the recipient; or
 (c) the distribution *flows indirectly to a former exempting entity and gives rise to an exempting credit for that entity; or
 (d) the distribution flows indirectly to an exempting entity and gives rise to a franking credit for that entity.

208‑235  Distributions to employees acquiring shares under an eligible employee share scheme
  Division 207 also applies to a *distribution *franked with an exempting credit made by a *former exempting entity as if it were a *franked distribution if:
 (a) the distribution is made to a person who is an employee of the former exempting entity, or of a *company that is a *subsidiary of the former exempting entity, at the time the distribution is made; and
 (b) the recipient acquired the *share on which the distribution is made