Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Part and Part 3 - 3 (about capital gains and losses) and Subdivision 328 - C (What is a small business entity), the vesting of a company's * CGT assets in a liquidator, or the holder of a similar office under a * foreign law, is ignored.
(2) This Part, Part 3 - 3 and Subdivision 328 - C apply to an act done by a liquidator of a company, or the holder of a similar office under a * foreign law, as if the act had been done by the company (instead of by the liquidator etc.).
Example: Ben, a liquidator of a company, sells a CGT asset of the company. Any capital gain or loss is made by the company, not by Ben.
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