INCOME TAX ASSESSMENT ACT 1936

SCHEDULE 2H - DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS  

Division 326 - DEMUTUALISATION  

Subdivision 326-H - 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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