Tax and Superannuation Laws Amendment (2014 Measures No. 6) Act 2014 (133 of 2014)

Schedule 1   Roll-overs for business restructures

Part 3   Rights under arrangements

Division 2   Transfers between certain trusts

Income Tax Assessment Act 1997

38   Paragraph 126-225(1)(b)

Repeal the paragraph, substitute:

(b) if subparagraph (a)(ii) applies - the receiving trust has no CGT assets immediately before the transfer time, other than any or all of the following:

(i) small amounts of cash or debt;

(ii) its rights under an *arrangement, if (collectively) those rights only facilitate the transfer of assets to it from the transferring trust; and