Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1A) If:
(a) a taxpayer acquired a qualifying share or right under an employee share scheme and has not made an election under section 139E covering the share or right; and
(b) for the whole of a notional accounting period of a FIF the following conditions are satisfied:
(i) the taxpayer holds the share or right;
(ii) the share or right is an interest in the FIF;
(iii) the cessation time for the share or right has not occurred;
the foreign investment fund income of the taxpayer, to the extent that it relates to the share or right, for the notional accounting period is zero.
(1) If:
(a) a taxpayer acquired a qualifying share or right under an employee share scheme and has not made an election under section 139E covering the share or right; and
(b) there is a period (the reduction period ) forming part of a notional accounting period of a FIF in respect of which the following conditions are satisfied:
(i) the taxpayer holds the share or right;
(ii) the share or right is an interest in the FIF;
(iii) the cessation time for the share or right has not occurred;
the foreign investment fund income of the taxpayer for the notional accounting period is to be reduced by an amount equal to any increase in the market value of the share or right during the reduction period.
(2) In the section, cessation time , market value , qualifying right and qualifying share have the same meanings as in Division 13A of Part III.
(3) This section applies in relation to a stapled security or right to acquire a stapled security that is treated as a qualifying share or qualifying right because of Subdivision DB of Division 13A of Part III in the same way as it applies in relation to a share or right.
(4) The cessation time for the stapled security or right is the cessation time provided for in that Division.