Income Tax Assessment Act 1997
For the purposes of this Part and Part 3-3 (about capital gains and losses) and Subdivision 328-C (What is a small business entity), the vesting of a company ' s * CGT assets in a liquidator, or the holder of a similar office under a * foreign law , is ignored. 106-35(2)
This Part, Part 3-3 and Subdivision 328-C apply to an act done by a liquidator of a company, or the holder of a similar office under a * foreign law , as if the act had been done by the company (instead of by the liquidator etc.).
Ben, a liquidator of a company, sells a CGT asset of the company. Any capital gain or loss is made by the company, not by Ben.
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