Income Tax (Transitional Provisions) Act 1997

None of the amendments made by Part 1 of Schedule 1 to the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 apply in relation to a capital gain or capital loss you make from a CGT event if:

the CGT event happens on or before 30 June 2020; and

you held an ownership interest in the dwelling to which the CGT event relates throughout the period:

starting just before 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 2017; and

ending just before the CGT event happens.

For the purposes of paragraph (1)(b), treat the ownership interest in the dwelling as having been held by you during a time during which the interest was held by:

in relation to sections 118‑195 to 118‑210 of the Income Tax Assessment Act 1997—the deceased or the trustee of the deceased estate; or

in relation to sections 118‑215 to 118‑230 of that Act—the trustee of the special disability trust.