Modifications to capital gains tax provisions



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End of attention

The modifications to the capital gains tax provisions - see section 4 - that provide for the removal of the exemption for assets acquired before 20 September 1985 do not apply in working out the net income of a trust. Consequently, the capital gains tax provisions apply to assets acquired by a trust after 19 September 1985.

Last modified: 05 Dec 2006QC 17522