Document ID: chunk:federal_register_of_legislation:C2010C00404:clause:3_1
Version: federal_register_of_legislation:C2010C00404
Segment Type: clause
Provision Reference: sch 3 cl 1
Character Range: 17894–18488

1  After subsection 116‑30(2A)
Insert:

 (2B) Despite paragraph (2)(b), subsection (2) does not apply if the *CGT event is *CGT event C2 (about cancellation, surrender and similar endings) and the *CGT asset that is the subject of the event is:
 (a) a *share in a company that has at least 300 *members and is not a company that is covered by section 116‑35; or
 (b) a unit in a unit trust that has at least 300 unit holders and is not a trust that is covered by section 116‑35.

Note: So, for one of these assets, the capital proceeds for the cancellation will be what you actually received.