INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY  

Division 620 - Assets of wound-up corporation passing to corporation with not significantly different ownership  

Subdivision 620-A - Corporations covered by Subdivision 124-I  

CGT consequences

SECTION 620-20   Disregard body ' s capital gains and losses from CGT assets  

620-20(1)  
This section applies if:


(a) the body *disposes of a *CGT asset to the company because the body ceases to exist; or


(b) another *CGT event happens to a CGT asset of the body because the body ceases to exist.

620-20(2)  
A *capital gain or a *capital loss the body makes from the *CGT asset is 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.