INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 8 - Bonus shares  

SECTION 160ZYG  

160ZYG   TIME OF ACQUISITION OF BONUS SHARES  
The bonus shares shall be deemed, for the purposes of this Part, to have been acquired by the shareholder at the time applicable under the following paragraphs:

(a) if:

(i) the bonus shares were issued after 1 o'clock in the afternoon, by legal time in the Australian Capital Territory, on 10 December 1986;

(ii) the original shares were acquired by the shareholder before 20 September 1985; and

(iii) after the time referred to in subparagraph (i), money has been paid to the company in respect of the bonus shares, being money that the shareholder paid or was required to pay;

the time when the liability arose to pay the money that was first paid as mentioned in subparagraph (iii); or

(b) in any other case - the time when the shareholder acquired the original shares.