Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (NO. 3) 2000 NO. 66, 2000 - SCHEDULE 1

Income Tax (Transitional Provisions) Act 1997

1 Subsection 960-105(2)

(2)

If this Subdivision applies to an entity under subsection (1) because of a particular change referred to in that subsection, it also applies because of the change to a member of the entity, in relation to the member's interests in the entity, if the member was a member immediately before, and immediately after, the change was made.

2 Paragraphs 960-110(c) and (d)

(c)

the beneficial ownership of the interests in the entity of a member of the entity to whom, because of a particular change, this Subdivision applies in relation to those interests is taken not to have altered as a result of the change; and

(d)

without limiting by implication any other effect of the above paragraphs:

(i)

the changes are taken not to have resulted in a CGT event in respect of the entity; and

(ii)

in so far as this Subdivision applies to a member of the entity because of a particular change, the change is taken not to have resulted in a CGT event in respect of the member in relation to the member's interests in the entity.