Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 2/22)
Character Range: 2148986–2151669

used to *provide affordable housing.

When this section applies
 (2) This section applies to a *discount capital gain if:
 (a) you are an individual; and
 (b) either:
 (i) you make the discount capital gain from a *CGT event happening in relation to a *CGT asset that is your *ownership interest in a *dwelling; or
 (ii) because of section 115‑215, Division 102 applies to you as if you had made the discount capital gain for a *capital gain of a trust covered by subsection (3); and
 (c) where subparagraph (b)(ii) applies—the trust's capital gain was made directly, or indirectly through one or more entities that are all covered by subsection (3), from a CGT event happening in relation to a CGT asset that is an ownership interest in a dwelling; and
 (d) the dwelling was used to *provide affordable housing on at least 1095 days:
 (i) before the CGT event; and
 (ii) during your, or the relevant trustee's or partner's, *ownership period of that dwelling; and
 (iii) on or after 1 January 2018.
The days mentioned in paragraph (d) need not be consecutive.
Note: 1095 days is the same as 3 years.
 (3) This subsection covers the following:
 (a) a trust, other than a *superannuation fund or a public unit trust (within the meaning of section 102P of the Income Tax Assessment Act 1936);
 (b) a *managed investment trust;
 (c) a partnership.

Discount percentage
 (4) The percentage resulting from this section is the sum of:
 (a) the *discount percentage that would apply to the *discount capital gain apart from this section; and
 (b) the result (expressed as a percentage) of subsection (5).
 (5) Work out the following:
where:
affordable housing days means the number of days during that *ownership period (see paragraph (2)(d)) of the *dwelling, and on or after 1 January 2018, on which:
 (a) the dwelling was used to *provide affordable housing; and
 (b) you were neither a foreign resident nor a *temporary resident.
total ownership days means the number of days during that *ownership period (see paragraph (2)(d)) of the *dwelling, less the number of days after 8 May 2012 during that ownership period that you were a foreign resident or a *temporary resident.

Subdivision 115‑C—Rules about trusts with net capital gains

Guide to Subdivision 115‑C

115‑200  What this Division is about

      This Subdivision sets out rules for dealing with the net income of a trust that has a net capital gain. The rules treat parts of the net income attributable to the trust's net capital gain as capital gains made by the beneficiary entitled to those parts. This lets the beneficiary reduce those parts by any capital losses and unapplied net capital losses it has.
      If the