Tax Laws Amendment (2009 Measures No. 4) Act 2009 (88 of 2009)

Schedule 2   Private ancillary funds

Part 3   Transitional provisions

Division 3   Transitional private ancillary funds

31   Transitional - transfer of property

For the purposes of item 2 of the column headed "Recipient" of the table in subsection 30-15(2) of theIncome Tax Assessment Act 1997, disregard a transfer of all of the property of the trust to another private ancillary fund if:

(a) the other fund is a deductible gift recipient; and

(b) every trustee of the other fund is a constitutional corporation; and

(c) the transfer happens during the period mentioned in item 28.