Income Tax Assessment Act 1997
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Hide history noteSECTION 118-220 118-220 Exemption available to trustee - after the principal beneficiary ' s death
This section applies to you in relation to a *CGT event if:
(a) the trustee of a trust holds a *CGT asset on a particular day (the transition day ); and
(b) on the transition day, or on an earlier day on which the CGT asset was held by the trustee of the trust, the trust is a *special disability trust; and
(c) the individual who is or has been the *principal beneficiary of the trust dies on the transition day; and
(d) the CGT event happens in relation to the CGT asset at or after the deceased ' s death; and
(e) the CGT event happens while you hold the CGT asset:
(i) as trustee of the trust; or
(ii) as trustee of an implied trust arising because of the deceased ' s death.
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