Tax Laws Amendment (2012 Measures No. 1) Act 2012 (71 of 2012)
Schedule 2 Limiting the trading stock exception for superannuation funds
Income Tax Assessment Act 1997
4 At the end of section 70-10 (before the notes)
Add:
(2) Trading stock does not include:
(a) a *Division 230 financial arrangement; or
(b) a *CGT asset covered by section 275-105 that:
(i) is owned by a *complying superannuation fund, a *complying approved deposit fund or a *pooled superannuation trust; or
(ii) is a *complying superannuation/FHSA asset of a *life insurance company.
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