Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES  

Division 316 - Demutualisation of friendly society health or life insurers  

Subdivision 316-B - Capital gains and losses connected with the demutualisation  

Guide to Subdivision 316-B

SECTION 316-50   What this Subdivision is about  


Disregard capital gains and losses made by any entity from a CGT event happening under the demutualisation, unless the entity:

  • (a) is or has been a member of the friendly society or insured through the society or any of its wholly-owned subsidiaries; and
  • (b) receives money for the event.

  • TABLE OF SECTIONS
    TABLE OF SECTIONS
    Gains and losses of members, insured entities and successors
    316-55 Disregarding capital gains and losses, except some involving receipt of money
    316-60 Taking account of some capital gains and losses involving receipt of money
    316-65 Valuation factor for sections 316-60, 316-105 and 316-165
    316-70 Value of the friendly society
    Friendly society ' s gains and losses
    316-75 Disregarding friendly society ' s capital gains and losses
    Other entities ' gains and losses
    316-80 Disregarding other entities ' capital gains and losses


    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.