Legislation

ITAA 1936 s What this Ruling is about 1 Relevant provisions 2 Class of entities 3 Qualifications 5 Date of effect 12 Scheme 13 Main features of the WCN 3 27 Distribution payment conditions 29 Distribution calculation 33 Scheduled Conversion 35 Automatic Conversion 38 Capital Trigger Event 39 Non-Viability Trigger Event 41 Automatic Conversion upon the occurrence of a Capital Trigger Event or a Non-Viability Trigger Event 45 No further rights if Conversion cannot occur 46 Acquisition Event 47 Optional Conversion 49 Ordinary Shares issued on Conversion 52 Optional Redemption 56 Transfer on the optional Transfer Date 61 Other matters 66 Ruling 67 Acquisition time of the WCN 3 - CGT implications 67 Acquisition time of the WCN 3 67 Cost base and reduced cost base of the WCN 3 68 Inclusion of Distributions and franking credits in assessable income 69 Entitlement to a tax offset 71 Exempt income or non-assessable non-exempt income 72 Franking credit subject to the refundable tax offset rules 73 Imputation benefits - streaming of imputation benefits 74 Section 177EA

ATO documents that consider ITAA 1936 s What this Ruling is about 1 Relevant provisions 2 Class of entities 3 Qualifications 5 Date of effect 12 Scheme 13 Main features of the WCN 3 27 Distribution payment conditions 29 Distribution calculation 33 Scheduled Conversion 35 Automatic Conversion 38 Capital Trigger Event 39 Non-Viability Trigger Event 41 Automatic Conversion upon the occurrence of a Capital Trigger Event or a Non-Viability Trigger Event 45 No further rights if Conversion cannot occur 46 Acquisition Event 47 Optional Conversion 49 Ordinary Shares issued on Conversion 52 Optional Redemption 56 Transfer on the optional Transfer Date 61 Other matters 66 Ruling 67 Acquisition time of the WCN 3 - CGT implications 67 Acquisition time of the WCN 3 67 Cost base and reduced cost base of the WCN 3 68 Inclusion of Distributions and franking credits in assessable income 69 Entitlement to a tax offset 71 Exempt income or non-assessable non-exempt income 72 Franking credit subject to the refundable tax offset rules 73 Imputation benefits - streaming of imputation benefits 74 Section 177EA