Reply: 3.1.1.1
From: A Jones
Thanks Richard,
this is what I've found. My earlier conclusion was incorrect. Donna's question is more complex than first appears: -
SECTION 160APHD» DEFINITIONS
«160APHD» In this Division, unless the contrary intention appears:
qualification period , in relation to a taxpayer in relation to shares or an interest in shares, means the primary qualification period or the secondary qualification period in relation to the taxpayer in relation to the shares or interest.
primary qualification period , in relation to a taxpayer in relation to shares or an interest in shares, means the period beginning on the day after the day on which the taxpayer acquired the shares or interest and ending:
(a) if the shares are not preference shares - on the 45th day after the day on which the shares or interest became ex dividend; or
(b) if the shares are preference shares - on the 90th day after the day on which the shares or interest
secondary qualification period , in relation to a taxpayer in relation to shares or an interest in shares, means:
(a) if the shares are not preference shares - the period beginning on the 45th day before, and ending on the 45th day after, the day on which the shares or interest became ex dividend; or
(b) if the shares are preference shares - the period beginning on the 90th day before, and ending on the 90th day after, the day on which the shares or interest become ex dividend.
I then have a further question. If in calculating the 45 days after which the stock becomes ex-dividend I do not include days where the stock is at risk i.e. where the value of the stock could be materially diminished, does this mean I exclude non-trading days (weekends and certain public holidays during which the stockmarket does not open)?
A Jones