Tax Laws Amendment (2006 Measures No. 4) Act 2006 (168 of 2006)

Schedule 4 CGT and foreign residents

Repeal the subsection, substitute:

(6) For a partner who is not a trustee of a trust at the time of the trigger event, either:

(a) the partner and the company must both be Australian residents at that time; or

(b) both of the following requirements must be satisfied:

(i) each asset must be *taxable Australian property at that time; and

(ii) the shares in the company mentioned in subsection 122-130(1) must be taxable Australian property just after that time.