Deferred notional gains to be disregarded
296-65 Deferred notional gains to be disregarded
For the purposes of working out an entity’s Division 296 fund earnings for an income year under subsection 296‑60(1) of the Income Tax Assessment Act 1997, disregard any capital gain that, for the purposes of Division 102 of that Act, the entity is treated as having made because of subsection 294‑120(5) of this Act.
Subsection 294‑120(5) deals with deferred notional gains for complying superannuation funds.
For the purposes of working out a pooled superannuation trust’s Division 296 fund earnings for an income year under subsection 296‑60(4) of the Income Tax Assessment Act 1997, disregard any capital gain that, for the purposes of Division 102 of that Act, the trust is treated as having made because of subsection 294‑130(5) of this Act.
Subsection 294‑130(5) deals with deferred notional gains for pooled superannuation trusts.
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