Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf any provision of the Income Tax Assessment Act 1997 would, because of events that happened before the time the transitional group came into existence, apply to a CGT event that happens after that time to change the cost base or reduced cost base of the members' membership interests in a chosen transitional entity, the provision does not so apply.
Note: For example, such a provision could otherwise apply where a loss transfer or value shift involving the entity has occurred.