Commonwealth Consolidated Acts

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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.



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