Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 (10 of 2016)
Schedule 1 CGT treatment of earnout rights
Part 2 Preserving small business concessions
Income Tax Assessment Act 1997
14 Paragraph 152-125(1)(b)
Repeal the paragraph, substitute:
(b) the company or trust makes one or more payments relating to the exempt amount to an individual (whether directly or indirectly through one or more interposed entities) before the later of:
(i) 2 years after the relevant *CGT event; and
(ii) if the relevant CGT event happened because the company or trust *disposed of the relevant CGT asset - 6 months after the latest time a possible *financial benefit becomes or could become due under a *look-through earnout right relating to that CGT asset and the disposal; and
(c) the individual was a *CGT concession stakeholder of the company or trust just before the relevant CGT event.
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