IT 2328PW2 - Partial Withdrawal
Income tax: capital gains provisions: interpretation and operation
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FOI status:may be released
Notice of Partial Withdrawal
The law in relation to the taxation of the net income of a trust that has a net capital gain was altered by the introduction of Subdivision 115-C of the Income Tax Assessment Act 1997. That Subdivision applies to assessments for the income year including 21 September 1999 and all later income years, but only for CGT events that happen after 11.45am (by legal time in the Australian Capital Territory) on 21 September 1999.
Commissioner of Taxation
11 September 2002