Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 3   Employee share schemes

Income Tax Assessment Act 1997

17   Subsection 130-80(1)

Repeal the subsection, substitute:

(1) This section sets out what happens if you:

(a) *acquire a *share or right at a discount (within the meaning of Subdivision C of Division 13A of Part III of the Income Tax Assessment Act 1936) under an *employee share scheme; or

(b) acquire a share or right that, because of section 139DQ of that Act, is treated, for the purposes of Division 13A of Part III of that Act, as if it were a continuation of a share or right acquired under an employee share scheme.