Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 (129 of 2019)
Schedule 1 Capital gains tax changes for foreign residents
Part 2 Principal asset test
Income Tax Assessment Act 1997
34 Subsection 855-30(4) (table item 1)
Repeal the item, substitute:
|
1 |
the sum of the *total participation interests held by the holding entity and its *associates in the other entity is less than 10% |
zero |
the *market value of the *membership interest mentioned in subsection (3) |