Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p18
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 18/46)
Character Range: 3098134–3100761

becoming able to control, voting power in a company merely because:
 (a) the company is or becomes:
 (i) a Chapter 5 body corporate within the meaning of the Corporations Act 2001; or
 (ii) an entity with a similar status under a *foreign law to a Chapter 5 body corporate; or
 (b) either:
 (i) a provisional liquidator is appointed to the company under section 472 of the Corporations Act 2001; or
 (ii) a person with a similar status under a foreign law to a provisional liquidator is appointed to the company.
 (2) For the purposes of sections 165‑15, 165‑40, 165‑115D, 165‑115M and 165‑129, a company (the stakeholding company) is not prevented from controlling, or being or becoming able to control, voting power in another company merely because:
 (a) the stakeholding company is or becomes:
 (i) a Chapter 5 body corporate within the meaning of the Corporations Act 2001; or
 (ii) an entity with a similar status under a *foreign law to a Chapter 5 body corporate; or
 (b) either:
 (i) a provisional liquidator is appointed to the stakeholding company under section 472 of the Corporations Act 2001; or
 (ii) a person with a similar status under a foreign law to a provisional liquidator is appointed to the stakeholding company.

165‑255  Incomplete periods
 (1) If:
 (a) this Division or Division 166 requires a company to meet or satisfy a condition or test, or work out an amount, for a period; and
 (b) the company is only in existence after the beginning of the period;
then the period is taken to start on the first day that the company is in existence.
 (2) If:
 (a) this Division or Division 166 requires a company to meet or satisfy a condition or test, or work out an amount, for a period; and
 (b) the company ceases to be in existence before the end of the period;
then the period is taken to end on the day the company ceases to be in existence.

Division 166—Income tax consequences of changing ownership or control of a widely held or eligible Division 166 company

Table of Subdivisions
 Guide to Division 166
166‑AA The object of this Division
166‑A Deducting tax losses of earlier income years
166‑B Working out the taxable income, tax loss, net capital gain and net capital loss for the income year of the change
166‑C Deducting bad debts
166‑CA Changeover times and alteration times
166‑D Tests for finding out whether the widely held or eligible Division 166 company has maintained the same owners
166‑E Concessional tracing rules

Guide to Division 166

166‑1  What this Division is about

      This Division modifies the way the rules in Division 165 apply to a widely held or eligible Division