Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 118 - Exemptions  

Subdivision 118-B - Main residence  

Special disability trusts

SECTION 118-222  

118-222   Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary ' s death  
This section applies to you in relation to a *CGT event if:

(a) the CGT event happens in relation to a *CGT asset; and

(b) you *acquired the CGT asset or your *ownership interest in it:

(i) as a result of an earlier CGT event; and

(ii) as a beneficiary of a trust; and

(c) section 118-220 applied to the trustee of the trust in relation to the earlier CGT event and the CGT asset.