INCOME TAX ASSESSMENT ACT 1936

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

Division 326 - DEMUTUALISATION  

Subdivision 326-C - CGT consequences of extinguishment of membership rights in mutual entity  

SECTION 326-65   EXTINGUISHMENT OF MEMBERSHIP RIGHTS   Application

326-65(1)  


This section applies where membership rights are extinguished as mentioned in paragraph 326-45(1)(a) , 326-50(1)(a) , 326-52(1)(a) or 326-55(1)(a) . Modification

326-65(2)  
A capital gain or capital loss arising from the extinguishment of the membership rights of a member is to be disregarded.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.