Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 118 - Exemptions  

Subdivision 118-E - Units in pooled superannuation trusts  

SECTION 118-350   Units in pooled superannuation trusts  

118-350(1)  
A *capital gain or *capital loss an entity makes from a *CGT event happening in relation to a unit in a unit trust is disregarded if:

(a) the trust is a *pooled superannuation trust for the income year in which the event happened; and

(b) one of the conditions in subsection (2) is satisfied.

118-350(2)  

The entity must be:

(a) the trustee of a *complying superannuation entity for the income year in which the *CGT event happened; or

(b) a *life insurance company and, just before the event happened, the unit must have been a *complying superannuation asset or a *segregated exempt asset of the company.