Income Tax (Transitional Provisions) Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 880 - Sovereign entities and activities  

SECTION 880-15   880-15   Sovereign entity ' s capital gain from membership interest etc. - gain disregarded  


Disregard a capital gain of a sovereign entity from a CGT event that happens in relation to a CGT asset if:


(a) the capital gain arises under a scheme; and


(b) the CGT asset is a membership interest, non-share equity interest or debt interest in another entity; and


(c) the requirements in paragraphs 880-5(b) to (g) are satisfied (on the assumption that references in those paragraphs to the investment asset were references to the CGT asset).


 

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