INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteThe bonus shares shall be deemed, for the purposes of this Part, to have been acquired by the shareholder at the time applicable under the following paragraphs:
(a) if:
(i) the bonus shares were issued after 1 o'clock in the afternoon, by legal time in the Australian Capital Territory, on 10 December 1986;
(ii) the original shares were acquired by the shareholder before 20 September 1985; and
the time when the liability arose to pay the money that was first paid as mentioned in subparagraph (iii); or
(iii) after the time referred to in subparagraph (i), money has been paid to the company in respect of the bonus shares, being money that the shareholder paid or was required to pay;
(b) in any other case - the time when the shareholder acquired the original shares.
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