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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 713.545

Discount capital gain in certain cases

                   The Income Tax Assessment Act 1997 applies as if the capital gain referred to in paragraph 713-535(2)(b), (3)(b) or (5)(b) were a discount capital gain if:

                     (a)  the asset to which the deferral event happened is a virtual PST asset; and

                     (b)  the asset was acquired less than 12 months before the deferral event happened; and

                     (c)  the new event happens at least 12 months after the asset was acquired.

Table of sections

713-700    Application



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