INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-40 - RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS  

Division 83A - Employee share schemes  

Subdivision 83A-B - Application of former provisions of the Income Tax Assessment Act 1936  

SECTION 83A-10   Savings - continued operation of former provisions  

83A-10(1)  
This section applies if:


(a) at the time (the pre-Division 83A time ) occurring just before Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No 2) Act 2009 commenced:


(i) Division 13A of Part III of the Income Tax Assessment Act 1936 , as in force at that time, ( former Division 13A ) applied in relation to a share or right (within the meaning of former Division 13A ); or

(ii) section 26AAC of that Act, as in force at that time, applied in relation to a share or right (within the meaning of that section as in force at that time); and


(b) if there is a beneficial interest in the share or right that is an ESS interest - Division 83A of the Income Tax Assessment Act 1997 does not apply in relation to the interest under section 83A-5 .

83A-10(2)  
If subparagraph (1)(a)(i) applies, to avoid doubt, former Division 13A continues to apply (in spite of its repeal) to the share or right.

83A-10(3)  
If subparagraph (1)(a)(ii) applies, to avoid doubt, sections 26AAC and 26AAD of the Income Tax Assessment Act 1936 , as in force at the pre-Division 83A time, continue to apply (in spite of their repeal) to the share or right.


 

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