Document ID: chunk:federal_register_of_legislation:C2014C00709:clause:1_4
Version: federal_register_of_legislation:C2014C00709
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 8892–9792

4  After section 118‑75
Insert:

118‑77  Native title and rights to native title benefits
 (1) A *capital gain or *capital loss you make is disregarded if:
 (a) you are an *Indigenous person or an *Indigenous holding entity; and
 (b) you make the gain or loss because one of the following things happens in relation to a *CGT asset mentioned in subsection (2):
 (i) you transfer the CGT asset to one or more entities that are either Indigenous persons or Indigenous holding entities;
 (ii) you create a trust, that is an Indigenous holding entity, over the CGT asset;
 (iii) your ownership of the CGT asset ends, resulting in *CGT event C2 happening in relation to the CGT asset.
 (2) The *CGT assets are as follows:
 (a) *native title;
 (b) the right to be provided with a *native title benefit.
Note: Paragraph (a) does not require a determination of native title under the Native Title Act 1993.