Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 118.222

Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary's death

    This section applies to you in relation to a * CGT event if:

  (a)   the CGT event happens in relation to a * CGT asset; and

  (b)   you * acquired the CGT asset or your * ownership interest in it:

  (i)   as a result of an earlier CGT event; and

  (ii)   as a beneficiary of a trust; and

  (c)   section   118 - 220 applied to the trustee of the trust in relation to the earlier CGT event and the CGT asset.


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