Document ID: chunk:federal_register_of_legislation:C2010C00635:clause:3_4
Version: federal_register_of_legislation:C2010C00635
Segment Type: clause
Provision Reference: sch 3 cl 4
Character Range: 26297–27081

4  Transitional

(1) The amount of the non‑assessable part referred to in section 104‑70 of the Income Tax Assessment Act 1997 is reduced by a further amount if:
 (a) the trustee of a trust makes a payment to you in respect of your unit or your interest in the trust; and
 (b) the payment is made on or after 11.45 am, by legal time in the Australian Capital Territory, on 21 September 1999 and before 1 July 2001; and
 (c) you are the trustee of a trust that is not a complying superannuation entity; and
 (d) a discount capital gain is excluded from the net capital gain of the trust making the payment because of step 3 of the method statement in subsection 102‑5(1) of that Act.

(2) The reduction is so much of the excluded discount capital gain as is reflected in the payment.