Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)

Schedule 1   Small business relief for CGT events

Income Tax Assessment Act 1997

36   Paragraphs 152-40(4)(b) and (c)

Repeal the paragraphs, substitute:

(b) shares in a company, other than:

(i) shares in a *widely held company that are covered by subsection (3), (3A) or (3B) and held by a *CGT concession stakeholder of the company; and

(ii) shares in any other company that are covered by subsection (3), (3A) or (3B);

(c) interests in a trust, other than:

(i) interests in a trust to which subsection (5) applies that are covered by subsection (3), (3A) or (3B) and held by a CGT concession stakeholder of the trust; and

(ii) interests in any other trust that are covered by subsection (3), (3A) or (3B);