Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

Division 149 - When an asset stops being a pre-CGT asset  

Subdivision 149-C - When asset of public entity stops being a pre-CGT asset  

SECTION 149-70   Effects if asset no longer has same majority underlying ownership  

149-70(1)    
The asset stops being a *pre-CGT asset if the condition in subsection 149-60(1) is not satisfied.

149-70(2)    
Also, Part 3-1 and this Part (except this Division) apply to the asset as if the entity had acquired it at the end of the *test day (as determined under subsection 149-55(4) ).

149-70(3)    
(Repealed by No 94 of 1999)