S 130-95 repealed by No 133 of 2009, s 3 and Sch 1 item 77, applicable in relation to the ESS interests mentioned in subsections
83A-5(1)
and
(2)
of the
Income Tax (Transitional Provisions) Act 1997
. S 130-95 formerly read:
SECTION 130-95 Application of Subdivision
130-95(1)
This Subdivision applies to shares, or rights to acquire shares, you acquired under an employee share scheme if:
(a)
the acquisition occurred on or before 6 pm, by legal time in the Australian Capital Territory, on 28 March 1995; or
(b)
the acquisition occurred before 1 July 1995 as a result of an offer or invitation made on or before the time referred to in paragraph (a) made to employees of a company to acquire shares or rights in the company or in another company of which the first company was a 100% subsidiary; or
(c)
for shares in a public company
-
the acquisition occurred before 1 July 1996 where:
(i)
an offer or invitation to acquire the shares or rights was made to employees of the company or of another company that was a subsidiary of that company within the meaning of the
Corporations Law
; and
(ii)
if approval of shareholders was required for the scheme
-
that approval was given on or before the time referred to in paragraph (a); or
(d)
you elected under subitem 11(5) of Part 4 of Schedule 2 to the
Taxation Laws Amendment Act (No. 2) 1995
that the amendments made by that Schedule not apply to the acquisition;
and an amount was included in your assessable income under section
26AAC
of the
Income Tax Assessment Act 1936
because of the acquisition.
History
S 130-95(1) amended by No 101 of 2003 and No 114 of 2000.
130-95(2)
Despite subsection (1), this Subdivision does not apply to the shares or rights if you elected under item 12 or 13 of Part 4 of Schedule 2 to the
Taxation Laws Amendment Act (No. 2) 1995
that the amendments made by that Schedule apply to their acquisition.
History
S 130-95(2) amended by No 101 of 2003 and No 114 of 2000.
130-95(3)
Shares, or rights to acquire shares, that, under section
26AAD
of the
Income Tax Assessment Act 1936
, are treated as a continuation of shares, or rights to acquire shares, in a company for the purposes of section
26AAC
of that Act:
(a)
are treated in the same way for the purposes of this Subdivision; and
(b)
are taken, for the purposes of this Subdivision, to have been acquired at the time of the last acquisition of the shares or rights that was not treated as such a continuation for the purposes of section
26AAC
of that Act.
History
S 130-95(3) inserted by No 147 of 2005.
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