Tax Laws Amendment (2009 Measures No. 6) Act 2010 (19 of 2010)

Schedule 1   Abolishing trust cloning and providing a CGT roll-over for certain trusts

Part 2   Roll-over for certain trusts

Income Tax Assessment Act 1997

6   After section 112-54

Insert:

112-54A Transfer of assets between certain trusts

Transfer of assets between certain trusts

Item

In this situation:

Element affected:

See sections:

1

There is a roll-over under Subdivision 126-G relating to the transfer of a CGT asset between certain trusts

First element of cost base and reduced cost base of the CGT asset

126-240

2

There is a roll-over under Subdivision 126-G relating to the transfer of a CGT asset between certain trusts

Cost base and reduced cost base of membership interests in each trust

126-245 and 126-250

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