Document ID: chunk:federal_register_of_legislation:C2005A00064:clause:4_25
Version: federal_register_of_legislation:C2005A00064
Segment Type: clause
Provision Reference: sch 4 cl 25
Character Range: 39868–40495

25  Before subsection 530A(1)
Insert:

 (1A) If:
 (a) a taxpayer acquired a qualifying share or right under an employee share scheme and has not made an election under section 139E covering the share or right; and
 (b) for the whole of a notional accounting period of a FIF the following conditions are satisfied:
 (i) the taxpayer holds the share or right;
 (ii) the share or right is an interest in the FIF;
 (iii) the cessation time for the share or right has not occurred;
the foreign investment fund income of the taxpayer, to the extent that it relates to the share or right, for the notional accounting period is zero.