Document ID: chunk:federal_register_of_legislation:C2010C00260:clause:1_1:p2
Version: federal_register_of_legislation:C2010C00260
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 2/11)
Character Range: 4851–7667

(3) and (5).

Note: A capital gain or loss you make may be disregarded under section 768‑915.

 (2) For the purposes of paragraph (1)(b):
 (a) if you have statutory income because a particular circumstance occurs, you derive the statutory income at the time when the circumstance occurs; and
 (b) if you have statutory income because a number of circumstances occur, you derive the statutory income at the time when the last of those circumstances occurs.

Exception to subsection (1)

 (3) However, the following are not *non‑assessable non‑exempt income under subsection (1):
 (a) the *ordinary income you *derive directly or indirectly from a source other than an *Australian source to the extent that it is remuneration, for employment undertaken, or services provided, while you are a *temporary resident;
 (b) your *statutory income (other than a *net capital gain) from a source other than an Australian source to the extent that it relates to employment undertaken, or services provided, while you are a temporary resident;
 (c) an amount included in your assessable income under Division 86;
 (d) an amount that, but for subsection (1), would be included in your assessable income under Division 13A of Part III of the Income Tax Assessment Act 1936.

Note: This subsection only makes an amount not non‑assessable non‑exempt income under subsection (1). It does not prevent that amount from being non‑assessable non‑exempt income under some other provision of this Act or the Income Tax Assessment Act 1936.

Section 26AAC employee share schemes

 (4) This subsection applies if:
 (a) an amount would otherwise be included in your assessable income under section 26AAC of the Income Tax Assessment Act 1936 (about shares and rights acquired by employees); and
 (b) the applicable time mentioned in subsection 26AAC(15) of that Act for the relevant *share occurs while you are a *temporary resident.

 (5) If subsection (4) applies, the amount is *non‑assessable non‑exempt income to the extent to which you acquired the relevant *share under a scheme for the acquisition of shares by employees in respect of, or for or in relation (directly or indirectly) to:
 (a) any employment you undertook outside Australia; or
 (b) any services you provided outside Australia;
prior to becoming a *temporary resident.

 (6) Subsection (5) does not limit paragraph (1)(b).

768‑915  Certain capital gains and capital losses of temporary resident to be disregarded

  A *capital gain or *capital loss you make from a *CGT event is disregarded if:
 (a) you are a *temporary resident when, or immediately before, the CGT event happens; and
 (b) you would not make a capital gain or loss from the CGT event if you were a foreign resident when, or immediately before, the CGT event happens.

Note: Division 136 deals with