Statute
Section 124ZN — Income Tax Assessment Act 1936: Exemption of income from sale of shares in a PDF
Text of the provision Official document
Income 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.
Official source: Federal Register of Legislation
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