Commonwealth Consolidated Acts

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

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 136.25

When an asset is taxable Australian property

                   A CGT asset a company owns is taxable Australian property if:

                     (a)  the company acquired the asset after 28 January 1988 and on or before 25 May 1988; and

                     (b)  it acquired the asset as a result of a disposal (for the purposes of former Part IIIA of the Income Tax Assessment Act 1936 ) for which there was a roll-over under former section 160ZZN or 160ZZO of that Act; and

                     (c)  that disposal was by:

                              (i)  an entity that was not a trustee, and not a resident of Australia for the purposes of that Act; or

                             (ii)  an entity that was a trustee of a trust that was not a resident trust estate, or a resident unit trust, for the purposes of that Act.

Table of Subdivisions

140-A   When is there share value shifting?

Table of sections

140-7        Pre-1994 share value shifts irrelevant

140-15      Off-market buy backs



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback