Income Tax (Transitional Provisions) Act 1997
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Hide history noteIf any provision of the Income Tax Assessment Act 1997 would, because of events that happened before the time the transitional group came into existence, apply to a CGT event that happens after that time to change the cost base or reduced cost base of the members ' membership interests in a chosen transitional entity, the provision does not so apply.
Note:
For example, such a provision could otherwise apply where a loss transfer or value shift involving the entity has occurred.
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