Tax Laws Amendment (2006 Measures No. 4) Act 2006 (168 of 2006)

Schedule 4   CGT and foreign residents

Part 3   Consequential amendments

Income Tax Assessment Act 1997

86   Paragraph 768-540(1)(c)

Repeal the paragraph, substitute:

(c) the asset is not any of the following:

(i) *taxable Australian property;

(ii) a *membership interest in a company that is an Australian resident;

(iii) a membership interest in a *resident trust for CGT purposes;

(iv) an option or right to acquire a membership interest mentioned in subparagraph (ii) or (iii); and