Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 118.110

  (1)   None of the amendments made by Part   1 of Schedule   1 to the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 apply in relation to a capital gain or capital loss you make from a CGT event if:

  (a)   the CGT event happens on or before 30   June 2020; and

  (b)   you held an ownership interest in the dwelling to which the CGT event relates throughout the period:

  (i)   starting just before 7.30 pm, by legal time in the Australian Capital Territory, on 9   May 2017; and

  (ii)   ending just before the CGT event happens.

  (2)   For the purposes of paragraph   (1)(b), treat the ownership interest in the dwelling as having been held by you during a time during which the interest was held by:

  (a)   in relation to sections   118 - 195 to 118 - 210 of the Income Tax Assessment Act 1997 --the deceased or the trustee of the deceased estate; or

  (b)   in relation to sections   118 - 215 to 118 - 230 of that Act--the trustee of the special disability trust.