S 23E repealed by No 47 of 2016, s 3 and Sch 6 item 8, applicable in respect of securities issued on or after 6 May 2016. For savings provisions, see note under Pt III Div 3 Subdiv
CB
heading. S 23E formerly read:
SECTION 23E REDEMPTION OF SPECIAL BONDS REDEEMABLE AT A PREMIUM
23E(1)
An amount received by a person upon the redemption of a Special Bond, other than a part of that amount paid as accrued interest, is not assessable income and is not exempt income of the person.
History
S 23E(1) substituted by No 66 of 2003 and a formal amendment by No 108 of 1981.
23E(2)
Subsection (1) does not affect the operation of this Act in relation to the redemption of a Special Bond owned by a person where, if the Special Bond had been sold by that person at the time of the redemption:
(a)
the proceeds of the sale would have been included in the assessable income of that person; or
(b)
any profit arising from the sale would, disregarding section 26BB, have been included in the assessable income of that person.
History
S 23E(2)(b) amended by No 224 of 1992, No 107 of 1989 and a formal amendment by No 108 of 1981.
23E(3)
In this section,
Special Bond
means security of the Commonwealth issued under the
Commonwealth Inscribed Stock Act 1911
and bearing on its face the words
"
Special Bond
"
.
History
S 23E(3) amended by No 97 of 2008, s 3 and Sch 3 item 9, by substituting
"
Commonwealth Inscribed Stock Act 1911
"
for
"
Commonwealth Inscribed Stock Act 1911-1946
"
, effective 3 October 2008.
S 23E inserted by No 85 of 1959.
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