Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES  

Division 315 - Demutualisation of private health insurers  

Subdivision 315-A - Capital gains and losses connected with a demutualisation of a private health insurer to be disregarded  

Rules for policy holders

SECTION 315-10  

315-10   Effect on the legal personal representative or beneficiary  

Disregard a *capital gain or *capital loss of an entity from a *CGT event that happens in relation to a *CGT asset if:

(a) the CGT asset forms part of the estate of a deceased individual who is mentioned in paragraph 315-5(b) ; and

(b) the entity is the deceased individual's *legal personal representative or a beneficiary in the deceased individual's estate; and

(c) the CGT asset devolves to the entity or *passes to the entity; and

(d) the CGT event happens under a demutualisation to which this Division applies; and

(e) the CGT asset is covered by section 315-20 .