Private ruling: Capital gains tax (CGT)
Date of advice: 20 November 2019
Published: January 2020
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will CGT event E1 under section 104-55 of the Income Tax Assessment Act 1997 (ITAA 1997) when the proposed amendments are made to the Deed? | A1: No. The Commissioner considers that the amendments do not cause the existing Trust to terminate and a new Trust to arise. More information about CGT event E1 can be found by searching for "QC22154" on ato.gov.au

Relevant facts and circumstances: The Trust was created by Deed with aTrustee. The settled trust fund was an amount. The unit holders of the Trust at the time of execution were: · Party A - some units; · Party B - some units; · Party C - some units; and · Party D - some units. A Clause of the Deed provides that the Deed may be amended and how . There exists a proposed Deed of Amendments that will be entered into between: · The Trustee; · Party A; · Party B; · Party C; and · Party D. The proposed Deed of Amendments details a list of amendments to the Deed.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 104-55