Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:1_1208m
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 1 cl 1208M
Character Range: 64086–64836

1208M  Individual ceases to be an attributable stakeholder of a company or trust

  If:
 (a) an individual ceases to be an attributable stakeholder of a company or trust on or after 1 January 2002; and
 (b) immediately before the cessation, the company or trust owned a particular asset (whether alone or jointly or in common with another entity or entities);
Division 2 of Part 3.12, section 93U and sections 198F to 198MA (inclusive) have effect as if:
 (c) the individual had disposed of an asset of the individual; and
 (d) the amount of the disposition referred to in paragraph (c) were equal to the individual's asset attribution percentage of the value of the asset referred to in paragraph (b), worked out immediately before the cessation.