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TIES: Issue for submission

Published on 22 Dec 10 by THE TAX INSTITUTE

The issue relates to a common structure where a company or unit trust is owned by one or more discretionary trusts. The sale of a business or active asset by the company or unit trust may not be eligible for the 15-year exemption simply because the discretionary trust has not had the capacity to make income or capital distributions in one or more years (despite having otherwise satisfied the relevant statutory requirements).

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