Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Act 2012 (158 of 2012)
Schedule 1 Merging superannuation funds
Part 2 Further amendments of Division 310
Income Tax Assessment Act 1997
15 Subsection 310-60(3)
Repeal the subsection, substitute:
(3) The transferring entity's *capital proceeds from the transfer event are taken to be an amount equal to:
(a) if, apart from this subsection, the event would result in a *capital gain - the asset's *cost base just before the event; or
(b) if, apart from this subsection, the event would result in a *capital loss - the asset's *reduced cost base just before the event.
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