Part 3-3 inserted by No 46 of 1998.

Div 126 inserted by No 46 of 1998.

Subdiv 126-G inserted by No 19 of 2010, s 3 and Sch 1 item 9, applicable to CGT events happening on or after 1 November 2008. No 19 of 2010, s 3 and Sch 1 items 12 and 13 also contains the following transitional provisions:

Transitional: time for making mirror choices  
(1)
Subsection 126-235(3) of the Income Tax Assessment Act 1997 does not apply if the other trust makes a mirror choice under a provision of a taxation law by:

(a) 6 months after the day this Act receives the Royal Assent [ CCH Note: assent was gained 24 March 2010]; or

(b) a later day allowed by the Commissioner of Taxation.

Note:

For this item to have effect, the other trust must still be able, under that provision of the taxation law, to make the mirror choice.

(2)
This item has effect in addition to subsection 126-235(4) of the Income Tax Assessment Act 1997 . Transitional: deadline for giving information to beneficiaries  
(1)
This item applies in relation to a roll-over chosen under Subdivision 126-G of the Income Tax Assessment Act 1997 if the transfer year for the roll-over is the transferring trust's 2008-09 income year.
(2)
Subsection 126-260(1) of that Act has effect, in relation to the roll-over, as if the reference in that subsection to 3 months after the end of the transfer year were a reference to 6 months after the day this Act receives the Royal Assent [ CCH Note: assent was gained 24 March 2010].

S 126-220 inserted by No 19 of 2010, s 3 and Sch 1 item 9, applicable to CGT events happening on or after 1 November 2008. For transitional provisions, see note under Subdiv 126-G heading.