INCOME TAX ASSESSMENT ACT 1997 - SECT 118.85 Special disability trusts
INCOME TAX ASSESSMENT ACT 1997 - SECT 118.85
Special disability trusts(1) A * capital gain or * capital loss you make is disregarded if you make it from transferring a * CGT asset for no consideration to:
(a) a * special disability trust; or
(b) a trust that becomes a special disability trust as soon as practicable after the transfer.
(2) In working out whether the transfer was for consideration,
disregard any interest in the trust.