Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 118.222

Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary's death

    This section applies to you in relation to a * CGT event if:

  (a)   the CGT event happens in relation to a * CGT asset; and

  (b)   you * acquired the CGT asset or your * ownership interest in it:

  (i)   as a result of an earlier CGT event; and

  (ii)   as a beneficiary of a trust; and

  (c)   section   118 - 220 applied to the trustee of the trust in relation to the earlier CGT event and the CGT asset.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback