Income Tax (Transitional Provisions) Act 1997
Division 723 applies to a realisation event happening on or after 1 July 2002 to a CGT asset that, at the time of the event:
(a) is not a depreciating asset; or
(b) is an item of trading stock; or
(c) is a revenue asset.
Paragraph 723-10(1) (b) or 723-15(1) (b) applies to a right created on or after 1 July 2002.
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