Pt 3-1 inserted by No 46 of 1998.
Div 118 inserted by No 46 of 1998.
Exempt or loss-denying transactions
SECTION 118-77 Native title and rights to native title benefits
(a) you are an *Indigenous person or an *Indigenous holding entity; and
(b) you make the gain or loss because one of the following things happens in relation to a *CGT asset mentioned in subsection (2):
(i) you transfer the CGT asset to one or more entities that are either Indigenous persons or Indigenous holding entities;
(ii) you create a trust, that is an Indigenous holding entity, over the CGT asset;
(iii) your ownership of the CGT asset ends, resulting in *CGT event C2 happening in relation to the CGT asset.
(a) *native title;
(b) the right to be provided with a *native title benefit.
Paragraph (a) does not require a determination of native title under the Native Title Act 1993.
S 118-77 inserted by No 84 of 2013, s 3 and Sch 1 item 4, applicable in relation to CGT events happening on or after 1 July 2008.