Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 124ZN

    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 .