Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p12
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 12/29)
Character Range: 2874044–2876736

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 *capital gain from the *CGT event that the company or trust disregarded; or
 (ii) otherwise—the amount of *capital proceeds received; and
 (b) the relevant *CGT exempt amount.

Payments may be joint or separate
 (6) If this section requires the company or trust to make 2 or more payments to a single *CGT concession stakeholder (whether or not by the same time), the company or trust may meet that requirement by making one payment or by making separate payments.
 (7) If a *CGT concession stakeholder is under 55 just before a payment is made under this section in relation to him or her:
 (a) the company or trust must make the payment to the CGT concession stakeholder by contributing it for the stakeholder to a *complying superannuation fund or an *RSA in respect of the stakeholder; and
 (b) the company or trust must notify the trustee of the fund or the *RSA provider at the time the contribution is made that the contribution is made in accordance with this section.
Note: For the non‑deductibility of the contribution, see subsection 290‑150(4).
 (8) For the purposes of Part 3‑30, treat a payment mentioned in paragraph (7)(a), made in accordance with this section, as a contribution made by the *CGT concession stakeholder.

Payments are not dividends or frankable distributions
 (9) Subsection (10) applies if:
 (a) a company makes a payment to comply with subsection (1) to:
 (i) a *CGT concession stakeholder; or
 (ii) an interposed entity, in relation to a CGT concession stakeholder; or
 (b) both of the following apply:
 (i) an interposed entity receives a payment (whether directly or indirectly through one or more interposed entities) that a company or trust makes to comply with subsection (1), in relation to a CGT concession stakeholder;
 (ii) the interposed entity passes on the payment to the CGT concession stakeholder or another interposed entity.
 (10) This Act applies to the payment, to the extent that it is less than or equal to the amount mentioned in subsection (3) for the stakeholder, as if:
 (a) it were not a *dividend; and
 (b) it were not a *frankable distribution.
 (11) Subsection (10) applies in relation to the payment despite section 109 and Division 7A of Part III of the Income Tax Assessment Act 1936.

152‑330  15‑year rule has priority
  This Subdivision does not apply to a *capital gain to which Subdivision 152‑B (15‑year exemption) applies.
Note: Under that Subdivision, such a gain is entirely disregarded, so there is