Income Tax Assessment Act 1997
View history note
Hide history noteCGT event E9 happens if:
(a) you agree for consideration that when property comes into existence you will hold it on trust; and
(b) at the time of the agreement, no potential beneficiary under the trust has a beneficial interest in the rights created by the agreement.
104-105(2)
The time of the event is when you made the agreement.
104-105(3)
You make a capital gain if the *market value the property would have had if it had existed when you made the agreement is more than any *incidental costs you incurred that relate to the event. You make a capital loss if that market value is less .
104-105(4)
The costs can include giving property: see section 103-5 . However, they do not include an amount you have received as *recoupment of them and that is not included in your assessable income, or an amount to the extent that you have deducted or can deduct it.
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