Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteNone of the amendments made by Part 1 of Schedule 1 to the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 apply in relation to a capital gain or capital loss you make from a CGT event if:
(a) the CGT event happens on or before 30 June 2020; and
(b) you held an ownership interest in the dwelling to which the CGT event relates throughout the period:
(i) starting just before 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 2017; and
(ii) ending just before the CGT event happens.
118-110(2)
For the purposes of paragraph (1)(b), treat the ownership interest in the dwelling as having been held by you during a time during which the interest was held by:
(a) in relation to sections 118-195 to 118-210 of the Income Tax Assessment Act 1997 - the deceased or the trustee of the deceased estate; or
(b) in relation to sections 118-215 to 118-230 of that Act - the trustee of the special disability trust.
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