Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)

Schedule 7   FBT exemption for worker entitlements

Income Tax Assessment Act 1997

8   At the end of section 126-130

Add:

(2) There is a roll-over if:

(a) *CGT event E1 or E2 happens in relation to a *CGT asset because the trust deed of a fund is amended or replaced; and

(b) the amendment or replacement is done for the purpose of having the fund approved as an approved worker entitlement fund under subsection 58PB(2) of the Fringe Benefits Tax Assessment Act 1986; and

(c) the assets and members of the fund do not change as a consequence of the amendment or replacement.

Note: The full list of CGT events is in section 104-5.