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

Schedule 3   Employee share schemes

Income Tax Assessment Act 1936

7   At the end of section 139CB

Add:

Note: Subdivision DA can affect whether the taxpayer is treated as having disposed of a right or ceased employment.

(3) Paragraphs (1)(c) and (d) do not apply in relation to a right if:

(a) a share has been or is acquired as a result of the exercise of the right; and

(b) because of section 139DQ, another share is treated, for the purposes of this Division, as if it were a continuation of that share.