Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1997 No. 147 of 1997 - SCHEDULE 17

Schedule 17-Employee share schemes Income Tax Assessment Act 1936 1 Subsection
139CD(5)
Omit "the employees", substitute "the permanent employees". 2 Paragraph
139GF(4)(b)
Omit "2/3", substitute "75%". 3 Application

(1) Part 4 of Schedule 2 to the Taxation Laws Amendment Act (No.  2) 1995
applies in the same way to the amendment made by item 1 of this Schedule as it
applied to the amendments made by Schedule 2 to that Act.

(2) The amendment made by item 2 of this Schedule applies to shares or rights
acquired on or after 1 July 1996.

[Minister's second reading speech made in-
House of Representatives on 26 March 1997
Senate on 23 June 1997]