Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES  

Division 315 - Demutualisation of private health insurers  

Subdivision 315-A - Capital gains and losses connected with a demutualisation of a private health insurer to be disregarded  

Rules for policy holders

SECTION 315-5  

315-5   Policy holders to disregard capital gains and losses related to demutualisation of private health insurer  

Disregard a *capital gain or *capital loss of an individual from a *CGT event that happens in relation to a *CGT asset if:

(a) the CGT event happens under a demutualisation to which this Division applies; and

(b) the individual is, or has been, a policy holder (within the meaning of the Private Health Insurance (Prudential Supervision) Act 2015 ) of, or another person insured through, the demutualising entity (the demutualising health insurer ); and

(c) the CGT asset is covered by section 315-20 .