Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 10E - PDFs (pooled development funds)  

Subdivision C - Adjustments of the tax treatment of capital gains and capital losses of PDFs  

SECTION 124ZZA   ALLOCATION OF GAIN AMOUNTS AND LOSS AMOUNTS TO CLASSES OF ASSESSABLE INCOME  

124ZZA(1)   Disposals of SME investments.  

If:

(a) there is an ordinary capital gain amount, or an ordinary capital loss amount, in respect of a disposal of an SME investment of the company; and

(b) the company was a PDF at the time of the disposal;

the ordinary capital gain amount or ordinary capital loss amount, as the case may be, is taken into account in determining the overall capital gain or overall capital loss for the class known as SME assessable income.

124ZZA(2)   Disposals of assets other than SME investments.  

If:

(a) there is an ordinary capital gain amount, or an ordinary capital loss amount, in respect of a disposal of an asset of the company; and

(b) subsection (1) does not apply to the disposal;

the ordinary capital gain amount or the ordinary capital loss amount, as the case may be, is taken into account in determining the overall capital gain or overall capital loss for the class known as other assessable income.