Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 128TG

             (1)  The following is a summary of this Division.

             (2)  If, in connection with a money‑lending business, a taxpayer is issued shares in a small‑medium enterprise, any profit or loss the taxpayer makes when it disposes of certain shares that would be dealt with under section 6‑5 or 8‑1 of the Income Tax Assessment Act 1997 is, to the extent that it relates to the period after the issue, instead dealt with under Parts 3‑1 and 3‑3 (about CGT) of the Income Tax Assessment Act 1997 .

             (3)  For this to apply, the taxpayer must, after the issue, hold shares representing at least 10% of the value of the small‑medium enterprise.