Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)

Schedule 3   Foreign resident CGT integrity measures

Part 1   Duplicated assets of corporate groups

Income Tax Assessment Act 1997

5   Application of amendment

Section 855-32 of the Income Tax Assessment Act 1997 (as inserted by this Part) applies in relation to a CGT event if:

(a) in a case where the 2 entities that are parties to the arrangement were members of the same consolidated group or MEC group at the time the asset was created - the CGT event happens after 7.30 pm, by legal time in the Australian Capital Territory, on 14 May 2013; and

(b) otherwise - the CGT event happens on or after 13 May 2014.