EV 1051977824495currentnon-binding advice

CGT - no change in beneficial owner

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

Will a capital gains tax event occur on the in-specie transfer of investments?

2

No. As the transfer will not result in a change of beneficial ownership, no capital gains tax event will occur. This ruling applies for the following period : Year ending 30 June 20XX The scheme commences on: 1 July 20XX

3

You are the trustee of a self-managed superannuation fund with ownership of various listed and unlisted investments. You have members who are the beneficial owners of the investments. An in-specie transfer of assets will occur whereby legal ownership will change. Despite the legal ownership change you will retain beneficial ownership.

4

Income Tax Assessment Act 1997 subsection 104-10 (2)