Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 308664–309487

3                       It does not matter what the residency status of the trust is                     Not an Australian resident at the time of the trigger event  A *CGT asset of the trust that has the *necessary connection with Australia at that time

122‑35  What if the company undertakes to discharge a liability (disposal case)

Disposal of a CGT asset

 (1) One of the requirements in this table must be satisfied if:

 (a) you *dispose of a *CGT asset; and

 (b) the company undertakes to discharge one or more liabilities in respect of it.

  (The market value, or the *cost base, of an asset is worked out when you disposed of it.)

What amount the liabilities cannot exceed
Item                                       In this situation:                                     the liabilities cannot exceed: