Commonwealth Numbered Acts

INCOME TAX ASSESSMENT AMENDMENT (CAPITAL GAINS) ACT 1986 No. 52 of 1986 - SECT 29

29. Section 221AG of the Principal Act is amended by inserting after
sub-section (1) the following sub-section:

"(1A) Any estimate made for the purposes of this section of the amount of
income tax that will be payable by a company in respect of its taxable income
of a year of income shall be based on the assumption that the assessable
income of the company of that year of income will not include any net capital
gain within the meaning of Part IIIA.".