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Removal of exemption of pre-20 September 1985 assets

Last updated 4 December 2006

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.

QC18000