Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

Division 149 - When an asset stops being a pre-CGT asset  

Subdivision 149-C - When asset of public entity stops being a pre-CGT asset  

SECTION 149-50   Which entities are affected  

149-50(1)  
This Subdivision provides for when a *CGT asset of an entity of any of these kinds stops being a *pre-CGT asset:


(a) a company *shares in which (except shares that carry the right to a fixed rate of *dividend) are listed for quotation in the official list of an *approved stock exchange;


(b) a *publicly traded unit trust;


(c) a *mutual insurance company;


(d) a *mutual affiliate company;


(e) a company (other than one covered by paragraph (a)) all the *shares in which are beneficially owned, whether directly, or indirectly through one or more interposed entities, by one or more of the following:


(i) a company covered by paragraph (a);

(ii) a *mutual insurance company;

(iii) a *mutual affiliate company;

(iv) a *publicly traded unit trust;


(f) (Omitted by No 94 of 1999)

149-50(2)  
A publicly traded unit trust is a unit trust the units in which:


(a) are listed for quotation in the official list of an *approved stock exchange; or


(b) are ordinarily available for subscription or purchase by the public.

149-50(3)  
This Division applies as if what is done or not done by the trustee of a *publicly traded unit trust had been done or not done by the trust.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.