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.