Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 10E
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PDFs (pooled development funds)
Income derived by a taxpayer from selling shares in a company is exempt from income tax if the company is a PDF at the time of the sale.
Subdivision A
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Shares in PDFs
SECTION 124ZN
124ZN
EXEMPTION OF INCOME FROM SALE OF SHARES IN A PDF
Income derived by a taxpayer from selling shares in a company is exempt from income tax if the company is a PDF at the time of the sale.
Note:
Any capital gain or capital loss from a disposal of shares in a PDF is disregarded: see section 118-13 of the Income Tax Assessment Act 1997 .
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