MMR 0.00% 0.4¢ mec resources limited

tax free status, page-2

  1. 37,911 Posts.
    lightbulb Created with Sketch. 828
    You may need to see a psychiatrist if you keeping 'hearing' things. Sounds very serious.

    As for MMR, all gains are non-taxable and all losses are non-deductible.

    This holds whether you are an investor or trader.

    Best wishes




    INCOME TAX ASSESSMENT ACT 1936
    PART III - LIABILITY TO TAXATION

    Division 10E - PDFs (pooled development funds)

    Subdivision A - Shares in PDFs

    SECTION 124ZN

    124ZN EXEMPTION OF INCOME FROM SALE OF SHARES IN A PDF

    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.

    SECTION 124ZO

    124ZO SHARES IN A PDF ARE NOT TRADING STOCK

    Shares in a PDF are not trading stock for the purposes of this Act.



    http://law.ato.gov.au/atolaw/results.htm?rank=find&cat=ALL&criteria=AND~pdf~basic~exact&target=AA&style=java&recStart=1&PiT=99991231235958



 
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