S 104-160(6) repealed by No 133 of 2009, s 3 and Sch 1 item 28, applicable in relation to the ESS interests mentioned in subsections 83A-5(1) and (2) of the Income Tax (Transitional Provisions) Act 1997. S 104-160(6) formerly read:
104-160(6) A *capital gain or *capital loss you make is disregarded if:
(a) the asset is a *qualifying share or *qualifying right; and
(b) the asset is not covered by an election under section 139E of the Income Tax Assessment Act 1936; and
(c) the *cessation time for the share or right has not occurred.
An individual may be able [to] disregard the gain or loss if he or she was a short term Australian resident: see section 104-166.
An individual may disregard the gain or loss if he or she was a temporary resident immediately before he or she stopped being an Australian resident: see section 768-915.
An individual can choose to disregard a capital gain or loss he or she makes until another CGT event happens in relation to the asset where he or she ceases to own the asset or he or she becomes an Australian resident again: see section 104-165.
S 104-160(6) amended by No 168 of 2006, s 3 and Sch 4 item 5, by inserting "where he or she ceases to own the asset" after "in relation to the asset" in Note 2, applicable to CGT events that happen on or after 12 December 2006.
S 104-160(6) amended by No 32 of 2006, s 3 and Sch 1 items 18 and 19, by substituting "section 104-166" for "section 104-165" in Note 1 and inserting Note 1A, effective 6 April 2006.
S 104-160(6) inserted at the end (before Note 1) by No 64 of 2005.
S 104-160 amended by No 41 of 2005 and inserted by No 46 of 1998.