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 1997
29 At the end of section 104-160 (before note 1)
Add:
(6) A *capital gain or *capital loss you make is disregarded if:
(a) the asset is a *qualifying share or *qualifying right; and
(b) the asset is not covered by an election under section 139E of the Income Tax Assessment Act 1936; and
(c) the *cessation time for the share or right has not occurred.