S 139DF repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections
Income Tax (Transitional Provisions) Act 1997
. S 139DF formerly read:
[Member of the same company group]
SECTION 139DF ANTI-AVOIDANCE
CERTAIN SHARES AND RIGHTS NOT QUALIFYING SHARES AND QUALIFYING RIGHTS
[Business of company is acquisition, sale or holding of shares]
Despite any other provision of this Part, a share in a company, or a right to acquire a share in a company, acquired by a taxpayer is not a qualifying share or right if:
the predominant business of the company (whether or not stated in its constituent documents) is the acquisition, sale or holding of shares, securities or other investments (whether directly or indirectly through one or more companies, partnerships or trusts); and
the taxpayer is employed by the company and is also employed by another company; and
the company and the other company are members of the same company group.
A company is a
member of the same company group
as another company if one of the companies is a holding company of the other or if another company is a holding company of both companies.
S 139DF inserted by No 169 of 1995.