INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 118 - Exemptions  

Subdivision 118-A - General exemptions  

Special disability trusts

SECTION 118-85   Special disability trusts  

118-85(1)  
A *capital gain or *capital loss you make is disregarded if you make it from transferring a *CGT asset for no consideration to:


(a) a *special disability trust; or


(b) a trust that becomes a special disability trust as soon as practicable after the transfer.

118-85(2)  
In working out whether the transfer was for consideration, disregard any interest in the trust.


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