Tax Laws Amendment (2011 Measures No. 7) Act 2011 (147 of 2011)

Schedule 1   Removing tax issues facing special disability trusts

Part 2   CGT exemption for assets transferred to special disability trusts

Income Tax Assessment Act 1997

8   Subsection 128-15(4) (after table item 3A)

Insert:

3B

One that *passes to a trustee of a *special disability trust

the *market value of the asset on the day you died

the market value of the asset on the day you died