Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:3_6
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 3 cl 6
Character Range: 41929–42902

6  At the end of section 840‑805
Add:

Exception—distributions on carried interests

 (7) Subsections (2) and (3) do not apply to you to the extent that the fund payment part:
 (a) is included in your assessable income under subsection 275‑200(2) (Gains etc. from carried interests) for the income year because you hold or held a *CGT asset that carries an entitlement to a distribution mentioned in subsection 275‑200(2); or
 (b) would be so included if subsection 275‑200(3) were disregarded.

 (8) Subsection (4) does not apply to you to the extent that the fund payment part:
 (a) is attributable to an amount included in the net income of the trust mentioned in that subsection because of subsection 275‑200(2) (Gains etc. from carried interests) for the income year because the trust holds or held a *CGT asset that carries an entitlement to a distribution mentioned in subsection 275‑200(2); or
 (b) would be so included if subsection 275‑200(3) were disregarded.