Income Tax Assessment Act 1936
SCHEDULE 2H
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DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS
Division 326
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DEMUTUALISATION
If a trustee transfers an ordinary share or distributes the proceeds of the sale of an ordinary share as mentioned in subparagraph 326-55(1)(h)(ii) , Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 do not apply in respect of any CGT event constituted by or arising from the transfer or distribution.
Subdivision 326-H
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CGT consequences of transfer of ordinary shares
SECTION 326-205
326-205
TRANSFER OF SHARE OR DISTRIBUTION OF PROCEEDS OF SALE OF SHARE NOT TO HAVE ANY CGT CONSEQUENCES
If a trustee transfers an ordinary share or distributes the proceeds of the sale of an ordinary share as mentioned in subparagraph 326-55(1)(h)(ii) , Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 do not apply in respect of any CGT event constituted by or arising from the transfer or distribution.
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