INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIA
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CAPITAL GAINS AND CAPITAL LOSSES
Division 12A
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Convertible notes
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unit trusts
SECTION 160ZZBD
160ZZBD
CONSIDERATION IN RESPECT OF ACQUISITION
A taxpayer who acquired units by the conversion of a convertible note shall be deemed, for the purposes of this Part, to have paid or given as consideration in respect of the acquisition of the units an amount equal to the sum of the consideration paid or given by the taxpayer in respect of the acquisition of the convertible note and the amount paid by the taxpayer in respect of the conversion.
View history note
Hide history noteA taxpayer who acquired units by the conversion of a convertible note shall be deemed, for the purposes of this Part, to have paid or given as consideration in respect of the acquisition of the units an amount equal to the sum of the consideration paid or given by the taxpayer in respect of the acquisition of the convertible note and the amount paid by the taxpayer in respect of the conversion.
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