Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 723 - Direct value shifting by creating right over non-depreciating asset  

SECTION 723-1   Application of Division 723  

723-1(1)    

Division 723 applies to a realisation event happening on or after 1 July 2002 to a CGT asset that, at the time of the event:

(a) is not a depreciating asset; or

(b) is an item of trading stock; or

(c) is a revenue asset.

723-1(2)    
Paragraph 723-10(1) (b) or 723-15(1) (b) applies to a right created on or after 1 July 2002.