Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)
Schedule 1 Small business relief for CGT events
Income Tax Assessment Act 1997
18 Paragraph 152-5(c)
Repeal the paragraph, substitute:
(c) if the asset is a share or interest in a trust, there must be a CGT concession stakeholder just before the CGT event, and the entity claiming the concession must be a CGT concession stakeholder in the company or trust or CGT concession stakeholders in the company or trust must have a small business participation percentage in the entity of at least 90%.
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