Div 13A repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections 83A-5(1) and (2) of the Income Tax (Transitional Provisions) Act 1997 .

Div 13A inserted by No 169 of 1995.

Former Div 13A repealed by No 224 of 1992 and inserted by No 126 of 1977.

Subdiv D repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections 83A-5(1) and (2) of the Income Tax (Transitional Provisions) Act 1997 .

S 139DD repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections 83A-5(1) and (2) of the Income Tax (Transitional Provisions) Act 1997 . S 139DD formerly read:

SECTION 139DD NO BENEFIT WHERE RIGHTS LOST  
139DD(1)
For the purposes of this Division, a right to acquire a share in a company is never acquired by a taxpayer if the following 2 requirements are satisfied.

139DD(2)
The first requirement is that the taxpayer loses the right without having exercised it.

139DD(2A)
To avoid doubt:

(a) the taxpayer does not lose the right if, because of section 139DQ , another right is treated, for the purposes of this Division, as if it were a continuation of that right; but

(b) the taxpayer loses the right if the taxpayer loses the other right without having exercised it.

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History

S 139DD(2A) substituted by No 147 of 2005.

S 139DD(2A) inserted by No 41 of 2005. No 41 of 2005, s 3 and Sch 3 item 22 contains the following application provision:

22 Application  
(1)
The amendment is taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.

(2)
In this item:

acquisition
, of a share or right, has the same meaning as in Division 13A of Part III of the Income Tax Assessment Act 1936 .

139DD(3)
The second requirement is that the company was, at the time the right was acquired, the employer of the taxpayer or a holding company of the employer of the taxpayer.

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S 139DD(3) amended by No 147 of 2005.

139DD(3A)
To avoid doubt, the company does not cease to be the employer of the taxpayer or a holding company of the employer of the taxpayer if, because of section 139DQ , the taxpayer's employment by another company is treated, for the purposes of this Division, as if it were a continuation of that employment.

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S 139DD(3A) inserted by No 41 of 2005. No 41 of 2005, s 3 and Sch 3 item 22, contains the following application provision:

22 Application  
(1)
The amendment is taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.

(2)
In this item:

acquisition
, of a share or right, has the same meaning as in Division 13A of Part III of the Income Tax Assessment Act 1936 .

139DD(3B)
If, but for subsection 139DR(2) , rights acquired by the taxpayer would, because of section 139DQ , be treated for the purposes of this Division as a continuation of other rights, the rights are to be treated for the purposes of this section as if they were a continuation of the other rights.

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S 139DD(3B) inserted by No 147 of 2005.

139DD(4)
Section 170 does not prevent the amendment of an assessment at any time for the purpose of giving effect to this section.

S 139DD inserted by No 169 of 1995.