Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)
Schedule 2 Forestry managed investment schemes
Income Tax Assessment Act 1936
1 After subsection 82KZMGA(1)
Insert:
(1A) Paragraph (1)(b) does not apply to a CGT event if:
(a) the CGT event happens because of circumstances outside the taxpayer's control; and
Example: The interest is compulsorily acquired.
(b) when the taxpayer acquired the interest, the taxpayer could not reasonably have foreseen the CGT event happening.
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