Tax and Superannuation Laws Amendment (2014 Measures No. 6) Act 2014 (133 of 2014)

Schedule 1   Roll-overs for business restructures

Part 4   Application and transitional provisions

Part 4 - Application and transitional provisions

40   Transitional provision - transfers between certain trusts

(1) This item applies if:

(a) a roll-over under Subdivision 126-G of the Income Tax Assessment Act 1997 is chosen after the commencement of this Schedule; and

(b) the transfer time (within the meaning of paragraph 126-225(1)(a) of that Act) for the roll-over happens during an income year ending before the commencement of this Schedule.

(2) Subsection 126-260(1) of that Act applies to the trustee of the transferring trust as if the reference in that subsection to "within 3 months after the end of the transfer year" were a reference to "within 3 months after the time the roll-over is chosen".