Tax Laws Amendment (2012 Measures No. 1) Act 2012 (71 of 2012)

Schedule 2   Limiting the trading stock exception for superannuation funds

Income Tax Assessment Act 1997

4   At the end of section 70-10 (before the notes)

Add:

(2) Trading stock does not include:

(a) a *Division 230 financial arrangement; or

(b) a *CGT asset covered by section 275-105 that:

(i) is owned by a *complying superannuation fund, a *complying approved deposit fund or a *pooled superannuation trust; or

(ii) is a *complying superannuation/FHSA asset of a *life insurance company.