Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2
Character Range: 2114260–2116034

2                                           K6         the *share or interest *acquired before 20 September 1985

 (2A) If the *capital gain results from a *CGT event K9 happening:
 (a) subsection (1) does not apply; and
 (b) to be a *discount capital gain, the *carried interest to which the CGT event relates must arise under a partnership agreement entered into at least 12 months before the CGT event.
 (3) A *capital gain from one of these *CGT events is not a discount capital gain (despite section 115‑5):
 (a) *CGT event D1;
 (b) *CGT event D2;
 (c) *CGT event D3;
 (d) *CGT event E9;
 (e) *CGT event F1;
 (f) *CGT event F2;
 (g) *CGT event F5;
 (h) *CGT event H2;
 (ha) *CGT event J2;
 (hb) *CGT event J5;
 (hc) *CGT event J6;
 (i) *CGT event K10.
Note: Capital gains from the CGT events mentioned in paragraphs (3)(a) to (f) are not discount capital gains because the CGT asset involved in the CGT event comes into existence at the time of the event, so it is impossible to meet the requirement in this section that the asset have been acquired at least 12 months before the event.

115‑30  Special rules about time of acquisition

Entity is treated as acquiring some CGT assets early
 (1) Sections 115‑25, 115‑40, 115‑45, 115‑105, 115‑110 and 115‑115 (the affected sections) apply as if an entity (the acquirer) had acquired a *CGT asset described in an item of the table at the time mentioned in the item:

When the acquirer is treated as having acquired a CGT asset
Item                                                         The affected sections apply as if the acquirer had acquired this CGT asset:                                                                                                                                                 At this time: