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VETERANS' ENTITLEMENTS ACT 1986 - SECT 52ZZY Individual ceases to be an attributable stakeholder of a company or trust

VETERANS' ENTITLEMENTS ACT 1986 - SECT 52ZZY

Individual ceases to be an attributable stakeholder of a company or trust

    If:

  (a)   an individual ceases to be an attributable stakeholder of a company or trust on or after 1   January 2002; and

  (b)   immediately before the cessation, the company or trust owned a particular asset (whether alone or jointly or in common with another entity or entities);

Subdivisions BA and BB of Division   11 and sections   45UT and 45UTA have effect as if:

  (c)   the individual had disposed of an asset of the individual; and

  (d)   the amount of the disposition referred to in paragraph   (c) were equal to the individual's asset attribution percentage of the value of the asset referred to in paragraph   (b), worked out immediately before the cessation.

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