Document ID: chunk:federal_register_of_legislation:C2024C00866:section:52zzy
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 52ZZY
Character Range: 903792–904530

52ZZY  Individual ceases to be an attributable stakeholder of a company or trust
  If:
 (a) an individual ceases to be an attributable stakeholder of a company or trust on or after 1 January 2002; and
 (b) immediately before the cessation, the company or trust owned a particular asset (whether alone or jointly or in common with another entity or entities);
Subdivisions BA and BB of Division 11 and sections 45UT and 45UTA have effect as if:
 (c) the individual had disposed of an asset of the individual; and
 (d) the amount of the disposition referred to in paragraph (c) were equal to the individual's asset attribution percentage of the value of the asset referred to in paragraph (b), worked out immediately before the cessation.