Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)

Schedule 3   Foreign resident CGT integrity measures

Part 1   Duplicated assets of corporate groups

Income Tax Assessment Act 1997

3   At the end of subsection 855-30(4)

Add:

Note 2: The market value of an asset of the other entity that is not taxable Australian real property, and is duplicated within the other entity’s corporate group, could be disregarded (see section 855-32).