Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 106.60

                   This Part and Part 3-3 apply to an act done by an entity (or an * agent of the entity) in relation to a * CGT asset for the purpose of enforcing or giving effect to a security, charge or encumbrance the entity holds over the asset as if the act had been done instead by the person who provided the security.

Example:    A lender sells property under a power of sale after the failure of the owner of the property to make payments on the loan. Any capital gain or loss is made by the owner of the property, not the lender.

Table of Subdivisions

             Guide to Division 108

108-A   What a CGT asset is

108-B    Collectables

108-C    Personal use assets

108-D   Separate CGT assets

Guide to Division 108