Statute
Section 109NA — Income Tax Assessment Act 1936: Certain liquidator’s distributions and loans not treated as dividends
Text of the provision Official document
A private company is not taken under section 109C or subsection 109D(1) to pay a dividend because of a distribution or loan made in the course of the winding-up of the company by a liquidator. Note: However, if such a loan is not fully repaid by the end of the following year of income, the company will be taken to have paid a dividend under subsection 109D(1A).
Official source: Federal Register of Legislation
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