INCOME TAX ASSESSMENT ACT 1997 - SECT 315.145 CGT treatment of demutualisation assets in lost policy holders trust
INCOME TAX ASSESSMENT ACT 1997 - SECT 315.145
CGT treatment of demutualisation assets in lost policy holders trust(1) The first element of the * cost base and * reduced cost base of a demutualisation asset issued to the trustee of a lost policy holders trust is its * market value on the day it is issued.
Note: There is an exception to this rule in Subdivision 315 - D where the asset is a share or right in a holding company with other assets.
(2) The trustee is taken to have * acquired the demutualisation
asset at the time it is issued.