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INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAZB General modifications--CGT

INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAZB

General modifications--CGT

    For the purposes of applying this Act in calculating the attributable income of a trust estate, Parts   3 - 1 and 3 - 3 of the Income Tax Assessment Act 1997 (about CGT) apply as if:

  (a)   sections   118 - 12 (about assets used to produce non - assessable income) and 855 - 50 (about a trust becoming a resident trust) were disregarded; and

  (b)   the trust estate were a resident trust for CGT purposes.

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