Taxation Determination

TD 93/78W

Income tax: capital gains: under what circumstances will Divisions 10 and 11 of Part IIIA of the Income Tax Assessment Act 1936 apply to options or rights to acquire shares issued by a company to an existing shareholder?

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Notice of Withdrawal

Taxation Determination TD 93/78 is withdrawn with effect from today.

1. TD 93/78 deals with the application of Divisions 10 and 11 of Part IIIA of the Income Tax Assessment Act 1936 (ITAA 1936). It specifies that Divisions 10 and 11 only apply when options or rights are issued pro-rata to all existing shareholders in that particular class of shares.

2. Divisions 10 and 11 of Part IIIA of the ITAA 1936 were replaced by Subdivision 130-B of the Income Tax Assessment Act 1997.

3. TD 93/78 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
5 April 2017

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References

ATO references:
NO 1-9N72KXS

Legislative References:
ITAA Part IIIA Divisions 10 &
11