Income Tax Assessment Act 1936
A person is a pre-CGT member of a demutualising entity if:
(a) the person ' s membership rights in the entity are a pre-CGT asset within the meaning of the Income Tax Assessment Act 1997 ; or
(b) both of the following apply:
(i) the person acquired membership rights in the entity by disposing of membership rights in another mutual entity; and
(ii) the person acquired membership rights in the other entity before 20 September 1985.
A person is a post-CGT member of a demutualising entity if the person is not a pre-CGT member.
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