CGT Determination Number 20

TD 20

Capital Gains: Is there a disposal where assets are transferred on the merger or de-merger of superannuation funds?

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FOI status:

may be releasedFOI number: I 1019107

1. Where businesses amalgamate or a business is divided into two or more businesses, members of one superannuation fund may be transferred to another superannuation fund. In these cases, assets can also be transferred to the other superannuation fund.

2. Because there is a change in ownership of the assets transferred from one superannuation fund to the other superannuation fund, there is a disposal for CGT purposes.

Note:
Where there is only a change in the trustee of the superannuation fund, there is no disposal for CGT purposes as there is no change in ownership of the assets (IT2328).

Commissioner of Taxation
31 October 1991

References

ATO references:
NO CGT Cell

ISSN 1037 - 1419

Subject References:
Transfer of assets;
Superannuation fund mergers & de-mergers

Legislative References:
160M

TD 20 history
  Date: Version: Change:
You are here 31 October 1991 Original ruling  
  29 November 2006 Original ruling + note Repeal provision note
  18 March 2009 Withdrawn