Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 104.72

  (1)   A * capital gain you make under subsection   104 - 70(4) is reduced if:

  (a)   you are the trustee of another trust that is a * fixed trust and is not a * complying superannuation entity; and

  (b)   you are taken to have a * capital gain under paragraph   115 - 215(3)(b) or (c) (your notional gain ) in respect of a corresponding trust gain (the trust gain ); and

  (c)   some or all (the attributable amount ) of the total of the non - assessable parts referred to in subsection   104 - 70(4) is attributable to proceeds from the trust gain.

  (2)   The * capital gain is reduced (but not below 0) by the lesser of:

  (a)   your notional gain; and

  (b)   the attributable amount.