Income tax: employee share acquisition scheme: does section 26AAC of the Income Tax Assessment Act 1936 apply to a situation where shares have been acquired under a scheme by a person who is engaged to provide services on a contract basis?

TD 93/42 explains when former section 26AAC of the Income Tax Assessment Act 1936 applied to shares issued under a scheme to a taxpayer who is a contractor or a consultant.

Section 26AAC has now been repealed and the employee share scheme rules have been rewritten in Division 83A of the Income Tax Assessment Act 1997.

TD 93/42 therefore has no ongoing relevance and is withdrawn.