Tax Laws Amendment (2009 Measures No. 6) Act 2010 (19 of 2010)
Schedule 1 Abolishing trust cloning and providing a CGT roll-over for certain trusts
Part 2 Roll-over for certain trusts
Income Tax Assessment Act 1997
8 Subsection 115-30(1) (at the end of the table)
Add:
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9 |
A *CGT asset that: (a) is a *membership interest in the receiving trust involved in a roll-over under Subdivision 126-G; and (b) is held by the acquirer just after the transfer time for the roll-over |
(a) when the acquirer *acquired the corresponding membership interest (or membership interests) in the transferring trust involved in the roll-over; or (b) if the roll-over asset for the roll-over has been involved in an unbroken series of roll-overs under Subdivision 126-G - when the acquirer acquired the corresponding membership interest (or membership interests) in the transferring trust involved in the first roll-over in the series |