Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Act 2019 (95 of 2019)

Schedule 2   Enhancing the integrity of the small business CGT concessions in relation to partnerships

Income Tax Assessment Act 1997

1   Section 152-5

Omit:

Additional basic conditions must be satisfied if the CGT asset is a share in a company or an interest in a trust.

substitute:

Additional basic conditions must be satisfied in the following circumstances:

(a) the CGT asset is a share in a company or an interest in a trust;

(b) the CGT event involves certain rights or interests in relation to the income or capital of a partnership.