Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 3   Employee share schemes

Income Tax Assessment Act 1997

20   Subsection 130-90(3)

Repeal the subsection, substitute:

(3) Either:

(a) the individual, *associate or affiliate company must have acquired the *share or right under an *employee share scheme; or

(b) the share or right must, because of section 139DQ of the Income Tax Assessment Act 1936, be a share or right that is treated, for the purposes of Division 13A of Part III of that Act, as if it were a continuation of a share or right acquired under an employee share scheme.