Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 316.50

What this Subdivision is about

Disregard capital gains and losses made by any entity from a CGT event happening under the demutualisation, unless the entity:

  (a)   is or has been a member of the friendly society or insured through the society or any of its wholly - owned subsidiaries; and

  (b)   receives money for the event.

Table of sections

Gains and losses of members, insured entities and successors

316 - 55   Disregarding capital gains and losses, except some involving receipt of money

316 - 60   Taking account of some capital gains and losses involving receipt of money

316 - 65   Valuation factor for sections   316 - 60, 316 - 105 and 316 - 165

316 - 70   Value of the friendly society

Friendly society's gains and losses

316 - 75   Disregarding friendly society's capital gains and losses

Other entities' gains and losses

316 - 80   Disregarding other entities' capital gains and losses



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