Income Tax Assessment Act 1997
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Hide history noteSECTION 315-30 315-30 Other entities to disregard capital gains and losses related to demutualisation
Disregard a *capital gain or *capital loss of an entity from a *CGT event if:
(a) the entity is established solely for the purpose of participating in a demutualisation to which this Division applies; and
(b) the entity is not a trust covered by Subdivision 315-C (about lost policy holders); and
(c) the CGT event:
(i) happened under a demutualisation to which this Division applies; and
(ii) happened before or at the same time as the allocation or distribution (in the form of shares or cash) of the accumulated surplus of the demutualising health insurer; and
(iii) was connected to that allocation or distribution.
Note:
The allocation or distribution of the accumulated surplus could happen through an arrangement involving more than one transaction.
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