Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 140.15

Off-market buy backs

             (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



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback