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

36   At the end of section 136-40

Add:

(4) This section does not apply to a *share or right if:

(a) it is a *qualifying share or a *qualifying right; and

(b) you have not made an election under section 139E of the Income Tax Assessment Act 1936 covering the share or right; and

(c) the *cessation time for the share or right has not occurred.