Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 83A.340

Application of Division to indeterminate rights

             (1)  This section applies if:

                     (a)  you acquire a beneficial interest in a right; and

                     (b)  the right later becomes a right to acquire a beneficial interest in a * share.

Example 1: You acquire a right to acquire, at a future time:

(a)    shares with a specified total value, rather than a specified number of shares; or

(b)    an indeterminate number of shares.

Example 2: You acquire a right under which the provider must provide you with either ESS interests or cash, whichever the provider chooses.

             (2)  This Division applies as if the right had always been a right to acquire the beneficial interest in the * share.

   

Guide to Part 2-42



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