Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)
Schedule 2 Forestry managed investment schemes
Income Tax Assessment Act 1997
2 After subsection 394-10(5)
Insert:
(5A) Paragraph (5)(b) does not apply to a *CGT event if:
(a) the CGT event happens because of circumstances outside your control; and
Example: The forestry interest is compulsorily acquired.
(b) when you acquired the *forestry interest, you could not reasonably have foreseen the CGT event happening.
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