Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 830 - Foreign hybrids  

Subdivision 830-D - Special rules applicable when an entity becomes or ceases to be a foreign hybrid  

Note:

In the case of a foreign hybrid company, references in this Subdivision that relate to partnerships are to be read subject to Subdivision 830-B . For example, a reference to a partner will be a reference to a shareholder in the company who is treated by Subdivision 830-B as a partner.

SECTION 830-110  

830-110   No disposal of assets etc. on entity becoming or ceasing to be a foreign hybrid  

To avoid doubt, the fact that an entity becomes or ceases to be a *foreign hybrid in relation to an income year does not cause:

(a) a *CGT event to happen to any *CGT asset consisting of:

(i) any *share or interest in the entity; or

(ii) any interest in an asset of the entity; or

(b) a disposal or any other event to happen to any other asset consisting of such a share or interest.