Income Tax Assessment Act 1936
SCHEDULE 2H
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DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS
Division 326
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DEMUTUALISATION
Subdivision 326-C
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CGT consequences of extinguishment of membership rights in mutual entity
SECTION 326-65
EXTINGUISHMENT OF MEMBERSHIP RIGHTS
Application
326-65(1)
This section applies where membership rights are extinguished as mentioned in paragraph 326-45(1)(a) , 326-50(1)(a) , 326-52(1)(a) or 326-55(1)(a) .
Modification
326-65(2)
A capital gain or capital loss arising from the extinguishment of the membership rights of a member is to be disregarded.
View history note
Hide history noteApplication
326-65(1)
This section applies where membership rights are extinguished as mentioned in paragraph 326-45(1)(a) , 326-50(1)(a) , 326-52(1)(a) or 326-55(1)(a) .
Modification
326-65(2)
A capital gain or capital loss arising from the extinguishment of the membership rights of a member is to be disregarded.