Document ID: chunk:federal_register_of_legislation:C2010C00686:clause:2_9
Version: federal_register_of_legislation:C2010C00686
Segment Type: clause
Provision Reference: sch 2 cl 9
Character Range: 24999–25784

9  At the end of section 130‑85
Add:

 (3) However, if:
 (a) the *share or right was *acquired from an employee share trust; and
 (b) if the share is a *qualifying share or the right is a *qualifying right—the acquirer made an election under section 139E of the Income Tax Assessment Act 1936;
the first element of the *cost base and *reduced cost base of the share or right is its market value (worked out under sections 139FA to 139FF of the Income Tax Assessment Act 1936) when you first acquired a beneficial interest in the share or right.

Note: Section 130‑80 of the Income Tax (Transitional Provisions) Act 1997 may affect the cost base or reduced cost base for shares or rights held by a trust at 5 pm (by legal time in the Australian Capital Territory) on 27 February 2001.