Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p11
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 11/29)
Character Range: 2871627–2874260

The $500,000 is also reduced by any reduction under old provisions about reduction of the CGT retirement exemption limit: see item 62 of Schedule 1 to the New Business Tax System (Capital Gains Tax) Act 1999.
 (2) If the individual was one of at least 2 *CGT concession stakeholders of a company or trust, and the company or trust made a choice for the individual, only the individual's percentage (see subsection 152‑315(5)) of the assets' *CGT exempt amounts is taken into account under subsection (1) for that choice.

152‑325  Company or trust conditions

Company or trust to make payments
 (1) A company or trust must make a payment (whether directly or indirectly through one or more interposed entities) to at least one of its *CGT concession stakeholders if:
 (a) the company or trust makes a choice under this Subdivision to disregard a *capital gain from *CGT event J2, J5 or J6; or
 (b) the company or trust receives an amount of *capital proceeds from a *CGT event for which it makes a choice under this Subdivision.
 (2) If the company or trust receives the *capital proceeds from the CGT event in instalments, subsection (1) applies to each instalment in succession (up to the relevant *CGT exempt amount).
 (2A) For the purposes of (but without limiting) subsection (2), the company or trust is treated as receiving the *capital proceeds in instalments if:
 (a) the *CGT event happened because the company or trust *disposed of the *CGT asset; and
 (b) the capital proceeds from the disposal are increased by one or more *financial benefits that the company or trust receives under a *look‑through earnout right.

Amount and timing of payments
 (3) If a payment is made to more than one *CGT concession stakeholder, the amount of each such payment is to be worked out by reference to each individual's percentage (see subsection 152‑315(5)) of the relevant *CGT exempt amount.
 (3A) If the *CGT concession stakeholder to whom the payment is made is an employee of the company or trust, the payment must not be of a kind mentioned in section 82‑135 (disregarding paragraph (fa) of that section).
 (4) The payment must be made by:
 (a) if paragraph (1)(a) applies—7 days after the company or trust makes the choice; and
 (b) otherwise—the later of:
 (i) 7 days after the company or trust makes the choice; and
 (ii) 7 days after the company or trust receives an amount of *capital proceeds from the *CGT event.
 (5) The amount of the payment, or the sum of the amounts of the payments, required to be made under this section must be equal to the lesser of:
 (a) either:
 (i) if paragraph (1)(a) applies—the amount of the