INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-1
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CAPITAL GAINS AND LOSSES: GENERAL TOPICS
Division 104
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CGT events
Subdivision 104-B
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Use and enjoyment before title passes
SECTION 104-15 (ARCHIVE)
104-15
Use and enjoyment before title passes
A capital gain or capital loss is disregarded if:
(a) you made the capital gain or capital loss for the 1997-1998 income year or an earlier income year under Part IIIA of the Income Tax Assessment Act 1936 because of an agreement to which paragraph 160M(3) (d) of that Act applies with another entity in relation to an asset; and
(b) the agreement ends in the 1998-99 income year or a later income year; and
(c) title in the asset does not pass to the other entity at or before the end of the agreement.
A capital gain or capital loss is disregarded if:
(a) you made the capital gain or capital loss for the 1997-1998 income year or an earlier income year under Part IIIA of the Income Tax Assessment Act 1936 because of an agreement to which paragraph 160M(3) (d) of that Act applies with another entity in relation to an asset; and
(b) the agreement ends in the 1998-99 income year or a later income year; and
(c) title in the asset does not pass to the other entity at or before the end of the agreement.
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