Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 140.15

  (8)   A share value shift is disregarded under subsection   140 - 15(8) of the Income Tax Assessment Act 1997 only if:

  (a)   the company concerned buys back the shares after 7.30 pm, by legal time in the Australian Capital Territory, on 9   May 1995; and

  (b)   the buy back is not done under an arrangement that is an excluded transitional arrangement within the meaning of subitem   12(2) of Schedule   1 of the Taxation Laws Amendment Act (No 1) 1996 .

Table of sections

149 - 5   Assets that stopped being pre - CGT assets under old law