Income Tax Assessment Act 1936

SCHEDULE 2H - DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS  

Division 326 - DEMUTUALISATION  

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History

Div 326 inserted by No 103 of 1999.

Subdivision 326-H - CGT consequences of transfer of ordinary shares  

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Subdiv 326-H inserted by No 103 of 1999.

SECTION 326-205  

326-205   TRANSFER OF SHARE OR DISTRIBUTION OF PROCEEDS OF SALE OF SHARE NOT TO HAVE ANY CGT CONSEQUENCES  

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If a trustee transfers an ordinary share or distributes the proceeds of the sale of an ordinary share as mentioned in subparagraph 326-55(1)(h)(ii) , Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 do not apply in respect of any CGT event constituted by or arising from the transfer or distribution.

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S 326-205 amended by No 101 of 2006 , s 3 and Sch 2 item 561, by amending references to repealed inoperative provisions, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 326-205 inserted by No 103 of 1999.

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