INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 109 - Acquisition of CGT assets  

Subdivision 109-B - Signposts to other acquisition rules  

SECTION 109-60   109-60   Acquisition rules outside this Part and Part 3-3  


This table sets out other acquisition rules outside this Part and Part 3-3.

Provisions of the Income Tax Assessment Act 1936 are in bold .


Other acquisition rules
Item In these circumstances: The asset is acquired at this time: See:
1 CGT event happens to Cocos (Keeling) Islands asset 30 June 1991 subsection 102-25(1) of the Income Tax (Transitional Provisions) Act 1997
.
1A (Repealed by No 20 of 2016)
.
2 Lender acquires a replacement security before 20 September 1985 subsection 26BC(6A)
.
3 Trust ceases to be a resident trust for CGT purposes and there is an attributable taxpayer when it ceases section 102AAZBA
.
4 CGT event happens to CGT asset in connection with the demutualisation of an insurance company except a friendly society health or life insurer on the demutualisation resolution day section 121AS
.
5 CGT event happens to assets of NSW State Bank at the first taxing time section 121EN
.
6 You own shares in a company that stops being a PDF just after it stops section 124ZR
.
7 (Repealed by No 23 of 2018)
.
8 A CGT asset of a CFC (that it owned on its commencing day) on the CFC ' s commencing day section 411
.
9 A CGT asset is owned by a tax exempt entity and it becomes taxable at the transition time section 57-25 in Schedule 2D
.
10 CGT event happens to CGT asset in connection with the demutualisation of a mutual entity other than an insurance company, health insurer and friendly society health or life insurer on the demutualisation resolution day Division 326 in Schedule 2H
.
11 You stop holding an item as trading stock when you stop paragraph 70-110(1)(b)
.
11A You acquire an *ESS interest and Subdivision 83A-C (about employee share schemes) applies to the interest at the *ESS deferred taxing point for the interest section 83A-125
.
12 CGT event happens to 30 June 1988 asset of complying superannuation fund, complying approved deposit fund or pooled superannuation trust 30 June 1988 section 295-90
.
13 You are issued with a share or right under a demutualisation of a health insurer except a friendly society health or life insurer the time the share or right is issued sections 315-80, 315-210 and 315-260
.
14 You are transferred a share or right by a lost policy holders trust under a demutualisation of a health insurer except a friendly society health or life insurer the time the share or right is issued sections 315-145, 315-210 and 315-260
.
14A You are issued with a share, or a right to acquire shares, under a demutualisation of a friendly society health or life insurer the time the share or right is issued section 316-105
.
14B You are transferred a share, or right to acquire shares, by a lost policy holders trust under a demutualisation of a friendly society health or life insurer the time the share or right is issued to the trustee section 316-170
.
15 A CGT asset is transferred to or from a life insurance company ' s complying superannuation asset pool at the time of the transfer Division 320
.
16 A CGT asset is transferred to or from the segregated exempt assets of a life insurance company at the time of the transfer Division 320
.
17 Entity becomes a subsidiary member of a consolidated group at the time it becomes a subsidiary member 701-5
.
18 Entity ceases to be a subsidiary member of a consolidated group at the time it ceases 701-40


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