Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1992No. 80, 1992 - SECT 26

26. Section 160Y of the Principal Act is amended:
(a) by omitting from subsection (2) "the following provisions" and
substituting "subsections (3) and (4)";

   (b)  by inserting after subsection (2) the following subsection:

"(2A) If:

   (a)  a person died after 2 April 1992; and

   (b)  an asset that formed part of the estate of the deceased person and was
        acquired by the deceased person on or after 20 September 1985 has
        passed to a beneficiary in the estate of the deceased person; and

   (c)  the deceased person was a resident; and

   (d)  the beneficiary is a non-resident; and

   (e)  the asset is not a taxable Australian asset; section 160X does not
        apply in respect of the asset but subsections (3) and (4) of this
        section have effect.".