Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 108.5

    If:

  (a)   an entity owned a thing that is not a form of property before 26   June 1992 and at all times from that day to the start of the entity's 1998 - 99 income year; and

  (b)   that thing was not, before 26   June 1992, an asset as defined in former section   160A of the Income Tax Assessment Act 1936 ;

the thing is not a CGT asset.

Table of sections

108 - 15   Sets of collectables