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

Schedule 4   CGT and foreign residents

Part 3   Consequential amendments

Income Tax Assessment Act 1997

64   At the end of section 124-875

Add:

Exception: asset must be taxable Australian property for foreign resident transferee

(6) For a transferee that is a foreign resident, this section only applies to a *CGT asset that is *taxable Australian property just after the transferee *acquires it under the trust restructure.