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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 83A.10

Savings--continued operation of former provisions

  (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.

  (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.

  (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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