When applying the capital gains tax provisions in working out attributable income, all CGT assets other than those having the necessary connection with Australia that a CFC owned at 30 June 1990 are deemed to have been acquired by the CFC on 30 June 1990 regardless of the date the asset was acquired.
Removal of exemption of pre-20 September 1985 assets
Last updated 4 December 2006
QC18000