New International Tax Arrangements (Foreign-owned Branches and Other Measures) Act 2005 (64 of 2005)
Schedule 4 Cross border employee shares or rights
Part 1 Amendments
Income Tax Assessment Act 1936
10 Paragraphs 139CD(1)(a) and (b)
Repeal the paragraphs, substitute:
(a) a share in a company is a qualifying share if:
(i) the 6 conditions below are satisfied; and
(ii) in the case of a share that a taxpayer has acquired while engaged in foreign service - section 139CDA applies to the share; and
(b) a right to acquire a share in a company is a qualifying right if:
(i) the first, second, third, fifth and sixth of the 6 conditions below are satisfied; and
(ii) in the case of a right that a taxpayer has acquired while engaged in foreign service - section 139CDA applies to the right.