Document ID: chunk:federal_register_of_legislation:C2025C00014:section:121at:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 121AT (pt 2/5)
Character Range: 1093487–1103833

the amount of any profit included in, or loss (where modification 1 does not apply) allowable as a deduction from, the disposer's assessable income in respect of the disposal; or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (b) the amount of any deduction allowable (where modification 1 does not apply) from the disposer's assessable income in respect of the acquisition of the share or interest
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    3. If the disposal is of either:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (a) a demutualisation original share, or an interest in such a share; or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (b) a non‑demutualisation bonus share, or an interest in such a share;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     then paragraphs 3(c) and (d) of the modifications column for item 5 in Table 1 apply for the purpose of working out:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (c) the amount of any profit included in, or loss (where modification 1 does not apply) allowable as a deduction from, the disposer's assessable income in respect of the disposal; or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (d) the amount of any deduction allowable (where modification 1 does not apply) from the disposer's assessable income in respect of the acquisition of the share or interest.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     In applying paragraph 3(c) of the modifications column for item 5 in Table 1, the reference to section 130‑20 (about bonus shares) of the Income Tax Assessment Act 1997 is taken instead to be a reference to section 6BA.

   4 Event that would be described in item 6 of Table 1 if the references in that item to bonus shares and original shares mentioned in section 130‑20 (about bonus shares) of the Income Tax Assessment Act 1997 were instead references to bonus shares and original shares mentioned in section 6BA.                                                                                                                                                                                                                                             1. If the disposal is of a demutualisation share, or interest in such a share, and the disposal takes place before the demutualisation listing day:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (a) no loss is allowable as a deduction from the disposer's assessable income in respect of the disposal; and
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (b) any deduction allowable from the disposer's assessable income in respect of the acquisition of the share or interest does not exceed the amount included in the disposer's assessable income in respect of the disposal.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    2. If the disposal is of a demutualisation share (other than a demutualisation original share), or an interest in such a share, then paragraphs 2(a) to (c) of the modifications column for item 6 in Table 1 apply for the purposes of working out:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (a) the amount of any profit included in, or loss (where modification 1 does not apply) allowable as a deduction from, the disposer's assessable income in respect of the disposal; or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (b) the amount of any deduction allowable (where modification 1 does not apply) from the disposer's assessable income in respect of the acquisition of the share or interest.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    3. If the disposal is of either: