Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 104.90

  (1)   CGT event E8 happens if:

  (a)   you are the beneficiary under a trust (except a unit trust or a trust to which Division   128 applies); and

  (b)   you did not give any money or property to * acquire the * CGT asset that is your interest in the trust capital and you did not acquire it by assignment; and

  (c)   you * dispose of the interest, or part of it (but not to the trustee).

Note:   Division   128 deals with the effect of death.

  (2)   The time of the event is:

  (a)   when you enter into the contract for the * disposal; or

  (b)   if there is no contract--when you stop owning the interest or part.

Note 1:   You work out if you have made a capital gain or capital loss under sections   104 - 95 and 104 - 100.

Note 2:   There is a special indexation rule for this event: see section   114 - 10.