Document ID: chunk:federal_register_of_legislation:C2025C00029:section:10:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 10 (pt 7/8)
Character Range: 2136575–2139207

115‑105 or 115‑110 applies to the gain; or
 (d) the percentage resulting from section 115‑120 if that section applies to the gain; or
 (e) the percentage resulting from section 115‑125 if that section applies to the gain.

115‑105  Foreign or temporary residents—individuals with direct gains

Object
 (1) The object of this section (with section 115‑115) is to adjust the discount percentage so as to deny you a discount to the extent that you accrued a *capital gain while a foreign resident or *temporary resident.

When this section applies
 (2) This section applies to a *discount capital gain if:
 (a) you are an individual; and
 (b) you *acquire a *CGT asset; and
 (c) you make the discount capital gain from a *CGT event happening in relation to the CGT asset; and
 (d) the period (the discount testing period):
 (i) starting on the day you acquired the CGT asset; and
 (ii) ending on the day the CGT event happens;
  ends after 8 May 2012; and
 (e) you were a foreign resident or *temporary resident during some or all of so much of that period as is after 8 May 2012.
Note: Section 115‑30 has special rules about when assets are acquired.

Changed residency status
 (3) For the purposes of this section and section 115‑115, if:
 (a) another individual owned the *CGT asset on a particular day before the discount testing period ends; and
 (b) on that day, that individual was one of the following (that individual's residency status):
 (i) an Australian resident (but not a *temporary resident);
 (ii) a temporary resident;
 (iii) a foreign resident; and
 (c) section 115‑30 treats you as having *acquired the CGT asset when that individual, or an earlier owner of the CGT asset, acquired it;
you are treated as having the same residency status on that day as that individual had on that day.

115‑110  Foreign or temporary residents—individuals with trust gains

Object
 (1) The object of this section (with section 115‑115) is to adjust the discount percentage so as to deny you a discount for a *capital gain you make because of section 115‑215 to the extent that the gain was accrued while you were a foreign resident or *temporary resident.

When this section applies
 (2) This section applies to a *discount capital gain if:
 (a) you are an individual and a beneficiary of a trust (your trust); and
 (b) because of section 115‑215, Division 102 applies to you as if you had made the discount capital gain on a particular day (your gain day) for a *capital gain (the relevant trust gain) of the trust estate; and
 (c) the period (the discount testing period) worked out from the following table ends after 8 May 2012;