Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteA CGT asset a company owns is taxable Australian property if:
(a) the company acquired the asset after 28 January 1988 and on or before 25 May 1988; and
(b) it acquired the asset as a result of a disposal (for the purposes of former Part IIIA of the Income Tax Assessment Act 1936 ) for which there was a roll-over under former section 160ZZN or 160ZZO of that Act; and
(c) that disposal was by:
(i) an entity that was not a trustee, and not a resident of Australia for the purposes of that Act; or
(ii) an entity that was a trustee of a trust that was not a resident trust estate, or a resident unit trust, for the purposes of that Act.
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