Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An amount received by a person upon the sale or redemption of eligible securities purchased or otherwise acquired at a discount on or before 30 June 1982, other than any part of that amount received as accrued interest, is not assessable income and is not exempt income of the person.
(2) Subsection (1) does not apply in relation to an amount received by a person by virtue of a transaction that is part of, or is incidental to, the carrying on by the person of a business that includes buying and selling eligible securities of any kind.
(3) Subsection (1) does not affect the operation of section 25A or 26C of this Act or section 15‑15 of the Income Tax Assessment Act 1997 .
(4) In this section, eligible securities means:
(a) bonds, debentures, stock or other securities; and
(b) any other document evidencing or acknowledging the indebtedness of a person, whether or not the debt is secured.