INCOME TAX ASSESSMENT ACT 1936 - SECT 124ZN Exemption of income from sale of shares in a PDF
INCOME TAX ASSESSMENT ACT 1936 - SECT 124ZN
Exemption of income from sale of shares in a PDFIncome derived by a taxpayer from selling shares in a company is exempt from income tax if the company is a PDF at the time of the sale.
Note: Any capital gain or capital loss from a disposal of shares in a
PDF is disregarded: see section 118 - 13 of the
Income Tax Assessment Act 1997 .