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What Happens if the Asset Intended to be Sold Could Not Be Sold by the Due Date?

03/12/2009

In this case, the ATO may overlook the failure to implement the divestment strategy. 

To do so the ATO will need to be satisfied that:

  • the trustees took all reasonable steps to implement the asset divestment strategy;
  • the inability to sell the assets was due to factors beyond the control of the trustees; and
  • the reason for the in-house assets ratio becoming excessive is due to the decline in market value of non in-house assets.

 

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