S 104-160(6) repealed by No 133 of 2009, s 3 and Sch 1 item 28, applicable in relation to the ESS interests mentioned in subsections
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
Income Tax Assessment Act 1936
(c) the *cessation time for the share or right has not occurred.
An individual may be able
disregard the gain or loss if he or she was a short term Australian resident: see section
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
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
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
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
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.