Income Tax Assessment Act 1936
View history note
Hide history noteDiv 13A repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections 83A-5(1) and (2) of the Income Tax (Transitional Provisions) Act 1997 .
Div 13A inserted by No 169 of 1995.
Former Div 13A repealed by No 224 of 1992 and inserted by No 126 of 1977.
(Repealed by No 133 of 2009)
S 139CA repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections
83A-5(1)
and
(2)
of the
Income Tax (Transitional Provisions) Act 1997
. S 139CA formerly read:
S 139CA(2) amended by No 41 of 2005. No 41 of 2005, s 3 and Sch 3 item 22 contains the following application provision:
acquisition
Subdivision
DA
can affect whether the taxpayer is treated as having disposed of a share or ceased employment.
SECTION 139CA CESSATION TIME
-
SHARES
139CA(1)
The
cessation time
for a share is the time when the taxpayer acquires the share if:
(a)
there is no restriction preventing the taxpayer from disposing of the share before a particular time; and
(b)
the scheme under which the share was acquired did not have any conditions that could result in the taxpayer forfeiting ownership of the share.
139CA(2)
If subsection (1) does not apply, the
cessation time
for a share is the earliest of the following:
(a)
the time when the taxpayer disposes of the share;
(b)
subject to subsection (4), the later of:
(i)
the time when any restriction preventing the taxpayer from disposing of the share ceases to have effect; and
(ii)
the time when any condition that could result in the taxpayer forfeiting ownership of shares ceases to have effect;
(c)
the time when the employment in respect of which the share was acquired ceases;
(d)
the end of the 10 year period starting when the taxpayer acquired the share.
22 Application
(1)
The amendment is taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.
(2)
In this item:
, of a share or right, has the same meaning as in Division
13A
of Part
III
of the
Income Tax Assessment Act 1936
.
139CA(3)
For the purposes of subsection (2), a taxpayer only ceases the employment in respect of which the share was acquired when the taxpayer is no longer employed by any of the following:
(a)
the employer of the taxpayer in that employment;
(b)
a holding company of the employer;
(c)
a subsidiary of the employer or of a holding company of the employer.
139CA(4)
Paragraph (2)(b) does not apply in relation to a share that, because of section
139DQ
, is treated, for the purposes of this Division, as if it were a continuation of a share acquired under an employee share scheme.
Note:
S 139CA(4) inserted by No 41 of 2005. No 41 of 2005, s 3 and Sch 3 item 22 contains the following application provision:
22 Application
(1)
The amendment is taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.
(2)
In this item:acquisition
, of a share or right, has the same meaning as in Division 13A of Part III of the Income Tax Assessment Act 1936 .
S 139CA inserted by No 169 of 1995.