Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p6
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 6/242)
Character Range: 8096193–8099034

Income Tax Assessment Act 1936.
trust restructuring period has the meaning given by section 124‑860.
trust share amount has the meaning given by subsection 207‑120(4).
trust voting interest has the meaning given by section 124‑781.
ultimate controller has the meaning given by section 727‑350.
ultimate holding company of a *wholly‑owned group has the meaning given by section 124‑780.
ultimate owner has the meaning given by section 149‑15.
ultimate stake of a particular percentage has the meaning given by sections 727‑405, 727‑410 and 727‑415.
unclaimed money payment has the meaning given by section 307‑5.
unconditionally registered: a *VCLP, *ESVCLP or *AFOF is unconditionally registered if:
 (a) its registration under the Venture Capital Act 2002 is not based, or is no longer based, on its conditional registration under section 13‑5 of that Act; or
 (b) it is taken to be unconditionally registered under subsection 13‑10(2) of that Act.
undeducted construction expenditure has the meaning given by section 43‑235 and 43‑240.
undeducted pre‑existing audited book value of a *depreciating asset has the meaning given by section 58‑80.
under, of a particular character, has the meaning given by section 276‑345.
under‑assessment, in the context of a *franking assessment, has the meaning given by subsection 214‑115(2).
under common ownership: 2 companies are under common ownership if, and only if:
 (a) they are members of the same *wholly‑owned group; or
 (b) after tracing the direct and indirect ownership of the *shares in each of the companies (through any interposed companies and trusts) to the individuals who ultimately hold it, that ownership is held by the same individuals in the same proportions.
In doing the tracing, ignore *shares whose *dividends can reasonably be regarded as being equivalent to the payment of interest on a loan having regard to:
 (c) how the dividends are calculated; and
 (d) the conditions applying to the payment of the dividends; and
 (e) any other relevant matters.
unequal share structure has the meaning given by subsection 167‑10(3).
unfrankable has the meaning given by section 202‑45.
unfranked part of a *distribution has the meaning given by section 976‑5.
uniform has the meaning given by subsection 34‑15(1).
unitary tax has the meaning given by section 770‑15.
United Nations Convention on the Law of the Sea means the United Nations Convention on the Law of the Sea, done at Montego Bay on 10 December 1982.
Note: The text of the United Nations Convention on the Law of the Sea is in Australian Treaty Series 1994 No. 31 ([1994] ATS 31) and could in 2014 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).
unlisted country has the meaning given by section 320 of the Income Tax Assessment Act 1936.
unrecouped FMD deduction (short