INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 115 - Discount capital gains and trusts ' net capital gains  

Subdivision 115-A - Discount capital gains  

What are not discount capital gains?

SECTION 115-40   115-40   Capital gain resulting from agreement made within a year of acquisition  


Your *capital gain on a *CGT asset from a *CGT event is not a discount capital gain (despite section 115-5 ) if the CGT event occurred under an agreement you made within 12 months of *acquiring the CGT asset.
Note:

Section 115-30 or 115-34 may affect the time when you are treated as having acquired the CGT asset.


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