New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003 (133 of 2003)

Schedule 1   Removal of taxing point on conversion or exchange of traditional securities

Income Tax Assessment Act 1997

14   Section 130-1

Repeal the section, substitute:

130-1 What this Division is about

This Division sets out the rules for these kinds of investments:

• bonus shares and units; and

• rights; and

• convertible interests; and

• shares acquired under an employee share scheme; and

• exchangeable interests.

Most are about modifying the cost base and reduced cost base of a CGT asset.