Tax Laws Amendment (2007 Measures No. 3) Act 2007 (79 of 2007)

Schedule 8   Forestry managed investment schemes

Part 3   Application

26   Application

(1) The amendments made by this Schedule apply to amounts paid by a participant under a forestry managed investment scheme on or after 1 July 2007.

(2) Despite subitem (1), the amendments do not apply if any other amounts were paid by the participant or any other participant under the scheme before 1 July 2007.

(3) Despite subitem (1), sections 394-25 and 394-30 of the Income Tax Assessment Act 1997 apply to CGT events that happen on or after 1 July 2007.

(4) Despite subitem (1), sections 82KZMGA and 82KZMGB of the Income Tax Assessment Act 1936 apply to CGT events that happen on or after 1 July 2007.