S 139FB repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections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 139FB formerly read:
SECTION 139FB UNLISTED SHARES
If the share is not quoted on an approved stock exchange on that day, the market value is the arm's length value of the share:
as specified in a written report, in a form approved by the Commissioner, given to the person from whom the taxpayer acquires the share by a person who is a qualified person in relation to valuing the share (see section
as calculated in accordance with any other method approved in writing by the Commissioner as a reasonable method of calculating the arm's length value of unlisted shares.
Partly paid unlisted shares.
Without limiting the factors that must be taken into account in valuing, under paragraph (1)(a), a share that is partly paid, the qualified person must take into account:
the amount unpaid on the share; and
the amount and timing of future calls; and
rights to dividends that arise from holding the share.
S 139FB amended by No 63 of 1998 and inserted by No 169 of 1995.