Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-1
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CAPITAL GAINS AND LOSSES: GENERAL TOPICS
Division 118
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Exemptions
Subdivision 118-A
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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.
View history note
Hide history noteSECTION 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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