s 713-545
In forceDiscount capital gain in certain cases
Chapter 3Specialist liability rules
Part 3-90Consolidated groups
Division 713Rules for particular kinds of entities
Subdivision 713-LTransitional relief for certain transactions relating to life insurance companies
713-545 Discount capital gain in certain cases
The Income Tax Assessment Act 1997 applies as if the capital gain referred to in paragraph 713‑535(2)(b), (3)(b) or (5)(b) were a discount capital gain if:
(a)
the asset to which the deferral event happened is a virtual PST asset; and
(b)
the asset was acquired less than 12 months before the deferral event happened; and
(c)
the new event happens at least 12 months after the asset was acquired.
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