INCOME TAX ASSESSMENT ACT 1936
SECTION 160APHO [ARCHIVE] PERSONS QUALIFIED BY HOLDING SHARES OR INTERESTS IN SHARES FOR A PRESCRIBED NUMBER OF DAYS DURING A QUALIFICATION PERIOD
160APHO(2) [Qualification period]
A taxpayer who has held shares or an interest in shares on which a dividend has been paid satisfies this subsection in relation to a qualification period in relation to the shares or interest if, during the period:
(a) where the taxpayer held the shares - the taxpayer held the shares for a continuous period (not counting the day on which the taxpayer acquired the shares or, if the taxpayer has disposed of the shares, the day on which the disposal occurred) of not less than:
(i) if the shares are not preference shares - 45 days; or
(ii) if the shares are preference shares - 90 days; or
(b) where the taxpayer held the interest in the shares - the taxpayer held the interest for a continuous period (not counting the day on which the taxpayer acquired the interest or, if the taxpayer has disposed of the interest, the day on which the disposal occurred) of not less than:
(i) if the shares are not preference shares - 45 days; or
(ii) if the shares are preference shares - 90 days.
160APHO(3) [Calculating days shares or interest held]
In calculating the number of days for which the taxpayer continuously held the shares or interest, any days on which the taxpayer has materially diminished risks of loss or opportunities for gain in respect of the shares or interest are to be excluded, but the exclusion of those days is not taken to break the continuity of the period for which the taxpayer held the shares or interest.
http://law.ato.gov.au/atolaw/view.htm?locid='RPC/19360027/160APHO(1)'#160APHO(1)
- Forums
- ASX - General
- 45 day rule
45 day rule, page-6
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online