Commonwealth Consolidated Acts

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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 615.15

Modifications--trading stock

    Substitute the following for subsection   615 - 50(2) of that Act:

  (2)   For each of the * shares in the interposed company that you acquired in return for those of your shares or units in the original entity that were your * trading stock at the time mentioned in paragraph   615 - 45(c), you are taken to have paid:

Start formula start fraction Total included in your assessable income under subsection (1) for those *shares or units in the original entity over Number of those shares in the interposed company end fraction end formula



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