Tax Laws Amendment (2008 Measures No. 4) Act 2008 (97 of 2008)
Schedule 3 Minor amendments
Part 1 General amendments
Income Tax Assessment Act 1997
87 Section 109-60 (table)
Repeal the table, substitute:
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Other acquisition rules |
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The asset is acquired at this time: |
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1 |
CGT event happens to Cocos (Keeling) Islands asset |
30 June 1991 |
section 24P |
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2 |
Lender acquires a replacement security |
before 20 September 1985 |
subsection 26BC(6A) |
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3 |
Trust ceases to be a resident trust for CGT purposes and there is an attributable taxpayer |
when it ceases |
section
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4 |
CGT event happens to CGT asset in connection with the demutualisation of an insurance company |
on the demutualisation resolution day |
section 121AS |
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5 |
CGT event happens to assets of NSW State Bank |
at the first taxing time |
section 121EN |
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6 |
You own shares in a company that stops being a PDF |
just after it stops |
section 124ZR |
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7 |
You acquire a number of shares that results in you obtaining a 10% (threshold) interest in a SME |
when you obtained the threshold interest |
section 128TI |
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8 |
A CGT asset of a CFC (that it owned on its commencing day) |
on the CFC's commencing day |
section 411 |
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9 |
A CGT asset is owned by a tax exempt entity and it becomes taxable |
at the transition time |
section 57-25 of Schedule 2D |
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10 |
CGT event happens to CGT asset in connection with the demutualisation of a mutual entity other than an insurance company or health insurer |
on the demutualisation resolution day |
Division 326 of Schedule 2H |
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11 |
You stop holding an item as trading stock |
when you stop |
paragraph 70-110(b) |
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12 |
CGT event happens to 30 June 1988 asset of complying superannuation fund, complying approved deposit fund or pooled superannuation trust |
30 June 1988 |
section 295-90 |
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13 |
You are issued with a share or right under a demutualisation of a health insurer |
the time the share or right is issued |
sections 315-80, 315-210 and 315-260 |
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14 |
You are transferred a share or right by a lost policy holders trust under a demutualisation of a health insurer |
the time the share or right is issued |
sections 315-145, 315-210 and 315-260 |
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15 |
A CGT asset is transferred to or from a life insurance company's complying superannuation/FHSA asset pool |
at the time of the transfer |
Division 320 |
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16 |
A CGT asset is transferred to or from the segregated exempt assets of a life insurance company |
at the time of the transfer |
Division 320 |
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17 |
Entity becomes a subsidiary member of a consolidated group |
at the time it becomes a subsidiary member |
701-5 |
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18 |
Entity ceases to be a subsidiary member of a consolidated group |
at the time it ceases |
701-40 |