Income Tax (Transitional Provisions) Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 880 - Sovereign entities and activities  

SECTION 880-15  

880-15   Sovereign entity ' s capital gain from membership interest etc. - gain disregarded  

Disregard a capital gain of a sovereign entity from a CGT event that happens in relation to a CGT asset if:

(a) the capital gain arises under a scheme; and

(b) the CGT asset is a membership interest, non-share equity interest or debt interest in another entity; and

(c) the requirements in paragraphs 880-5(b) to (g) are satisfied (on the assumption that references in those paragraphs to the investment asset were references to the CGT asset).