s 140-15
In forceOff‑market buy backs
Chapter 3Specialist liability rules
Part 3-3Capital gains and losses: special topics
Division 140Share value shifting
Subdivision 140-AWhen is there share value shifting?
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.
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.