Income Tax Assessment Act 1997



Division 328 - Small business entities  

Subdivision 328-G - Restructures of small businesses  

Consequences of a roll-over under this Subdivision

SECTION 328-470   328-470   Membership interests affected by transfers of assets  


(a) section 328-455 applies in relation to the transfer of an asset under a transaction; and

(b) an entity holds, either directly or indirectly:

(i) a *membership interest in the transferor or a transferee; or

(ii) a membership interest that was issued as provided for by the transaction;

disregard a *capital loss from a *CGT event that arises in relation to the membership interest after the transaction takes effect, except to the extent that the entity can demonstrate that the loss is attributable to a matter other than the transaction.


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