Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 2   Forestry managed investment schemes

Income Tax Assessment Act 1997

2   After subsection 394-10(5)

Insert:

(5A) Paragraph (5)(b) does not apply to a *CGT event if:

(a) the CGT event happens because of circumstances outside your control; and

Example: The forestry interest is compulsorily acquired.

(b) when you acquired the *forestry interest, you could not reasonably have foreseen the CGT event happening.