INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIA
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CAPITAL GAINS AND CAPITAL LOSSES
Division 20
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Changes in majority underlying interests in assets
Subdivision A
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Preliminary
SECTION 160ZZRU
160ZZRU
ACQUISITION OF PERCENTAGE OF UNDERLYING INTERESTS AS A RESULT OF DEATH
For the purposes of this Division, if, because of a person's death, a natural person acquires a percentage (the acquired percentage ) of the underlying interests in an asset, the natural person is taken to have held (in addition to any other part of the total underlying interests that the person held or is taken to have held), at any time when the dead person held a percentage (the dead person's percentage ) of the total underlying interests in the asset, a percentage of the total underlying interests in the asset equal to the acquired percentage, or the dead person's percentage at that time, whichever is the less.
View history note
Hide history noteFor the purposes of this Division, if, because of a person's death, a natural person acquires a percentage (the acquired percentage ) of the underlying interests in an asset, the natural person is taken to have held (in addition to any other part of the total underlying interests that the person held or is taken to have held), at any time when the dead person held a percentage (the dead person's percentage ) of the total underlying interests in the asset, a percentage of the total underlying interests in the asset equal to the acquired percentage, or the dead person's percentage at that time, whichever is the less.
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