CGT Determination Number 20

TD 20

Capital Gains: Is there a disposal where assets are transferred on the merger or de-merger of superannuation funds?

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FOI status:

1. Where businesses amalgamate or a business is divided into two or more businesses, members of one superannuation fund may be transferred to another superannuation fund. In these cases, assets can also be transferred to the other superannuation fund.

2. Because there is a change in ownership of the assets transferred from one superannuation fund to the other superannuation fund, there is a disposal for CGT purposes.

Commissioner of Taxation
31 October 1991

References

ATO references:
NO CGT Cell

Subject References:
Transfer of assets;
Superannuation fund mergers & de-mergers

Legislative References:
160M