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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 118 - Exemptions  

Subdivision 118-A - General exemptions  

Exempt or loss-denying transactions

SECTION 118-42  

118-42  Transfer of stratum units  

 ITAA 36
If:


(a) you own land on which there is a building; and


(b) you subdivide the building into *stratum units; and


(c) you transfer each unit to the entity who had the right to occupy it just before the subdivision;

a *capital gain or *capital loss you make from transferring the unit is disregarded.


 



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