INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
SCHEDULE 2H
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DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES
326-5(5)
In so far as this Division has effect for the purposes of Part IIIA:
(a) a reference to a person making or not making a capital gain is taken to be a reference to a capital gain accruing or not accruing, as the case may be, to the person; and
(b) a reference to a person making or not making a capital loss is taken to be a reference to the person incurring or not incurring, as the case may be, a capital loss; and
(c) a reference to a person being taken to have paid an amount for the acquisition of a share or an interest in a share is a reference to a person being taken to have paid the amount as consideration for the acquisition of the share or interest.
CCH Note:
Below is material substituted or repealed as inoperative in Sch 2H by No 101 of 2006.
In so far as this Division has effect for the purposes of Part IIIA:
(a) a reference to a person making or not making a capital gain is taken to be a reference to a capital gain accruing or not accruing, as the case may be, to the person; and
(b) a reference to a person making or not making a capital loss is taken to be a reference to the person incurring or not incurring, as the case may be, a capital loss; and
(c) a reference to a person being taken to have paid an amount for the acquisition of a share or an interest in a share is a reference to a person being taken to have paid the amount as consideration for the acquisition of the share or interest.
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