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
4 Section 109-55 (after table item 11)
Insert:
|
11A |
You acquire shares in a company in exchange for the disposal of an exchangeable interest, and the disposal of the exchangeable interest was to: (a) the issuer of the exchangeable interest; or (b) a connected entity of the issuer of the exchangeable interest |
when the disposal of the exchangeable interest happened |
section 130-105 |
|
11B |
You acquire shares in a company in exchange for the redemption of an exchangeable interest |
when the redemption of the exchangeable interest happened |
section 130-105 |
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