Income Tax Assessment Act 1936

Archived:

S 17 repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 38, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

S 23J repealed by No 47 of 2016, s 3 and Sch 6 item 8, applicable in respect of securities issued on or after 6 May 2016. For savings provisions, see note under Pt III Div 3 Subdiv CB heading. S 23J formerly read:

SECTION 23J SALE OF SECURITIES PURCHASED AT A DISCOUNT  
23J(1)
An amount received by a person upon the sale or redemption of eligible securities purchased or otherwise acquired at a discount on or before 30 June 1982, other than any part of that amount received as accrued interest, is not assessable income and is not exempt income of the person.

 View history note

 Hide history note

History

S 23J(1) substituted by No 66 of 2003.

23J(2)
Subsection (1) does not apply in relation to an amount received by a person by virtue of a transaction that is part of, or is incidental to, the carrying on by the person of a business that includes buying and selling eligible securities of any kind.

23J(3)
Subsection (1) does not affect the operation of section 25A or 26C of this Act or section 15-15 of the Income Tax Assessment Act 1997 .

 View history note

 Hide history note

History

S 23J(3) amended by No 121 of 1997, No 138 of 1994 and No 124 of 1984.

23J(4)
In this section, eligible securities means:

(a) bonds, debentures, stock or other securities; and

(b) any other document evidencing or acknowledging the indebtedness of a person, whether or not the debt is secured.

S 23J inserted by No 76 of 1982.