Taxation Laws Amendment Act (No. 1) 2001 (72 of 2001)

Schedule 2   Arrangements treated as a sale and loan and limited recourse debt

Part 2   Consequential amendments: arrangements treated as a sale and loan

Income Tax Assessment Act 1997

21   Subsection 42-30(3) (after paragraph (ab) of table item 1)

Insert:

(ac) you are taken to have ceased to be its owner as mentioned in paragraph 240-20(2)(b); or

(cd) you are taken to have disposed of it as mentioned in subsection 240-20(1) or 240-90(2); or