Published on 30 Jan 09
by THE TAX INSTITUTE
The objective of the share capital tainting rules in Division 197 of the Income Tax Assessment Act 1997 (ITAA 97) is outlined in paragraph 4.4 of the Explanatory Memorandum (EM) to Tax Laws Amendment (2006 Measures No.3) Bill 2006 introducing Division 197 of the ITAA 97:
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