Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES

View history reference

Division 316 - Demutualisation of friendly society health or life insurers

Subdivision 316-B - Capital gains and losses connected with the demutualisation

Guide to Subdivision 316-B

SECTION 316-50 What this Subdivision is about

Disregard capital gains and losses made by any entity from a CGT event happening under the demutualisation, unless the entity:

(a) is or has been a member of the friendly society or insured through the society or any of its wholly-owned subsidiaries; and

(b) receives money for the event.

TABLE OF SECTIONS

**TABLE OF SECTIONS**
Gains and losses of members, insured entities and successors
316-55	Disregarding capital gains and losses, except some involving receipt of money
316-60	Taking account of some capital gains and losses involving receipt of money
316-65	Valuation factor for sections 316-60, 316-105 and 316-165
316-70	Value of the friendly society
Friendly society ' s gains and losses
316-75	Disregarding friendly society ' s capital gains and losses
Other entities ' gains and losses
316-80	Disregarding other entities ' capital gains and losses