Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 328.470

    If:

  (a)   section   328 - 455 applies in relation to the transfer of an asset under a transaction; and

  (b)   an entity holds, either directly or indirectly:

  (i)   a * membership interest in the transferor or a transferee; or

  (ii)   a membership interest that was issued as provided for by the transaction;

disregard a * capital loss from a * CGT event that arises in relation to the membership interest after the transaction takes effect, except to the extent that the entity can demonstrate that the loss is attributable to a matter other than the transaction.