INCOME TAX ASSESSMENT ACT 1997 - SECT 118.222 Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary's death
INCOME TAX ASSESSMENT ACT 1997 - SECT 118.222
Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary's deathThis 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.