INCOME TAX ASSESSMENT AMENDMENT (CAPITAL GAINS) ACT 1986 No. 52 of 1986 - SECT 30 Interpretation

INCOME TAX ASSESSMENT AMENDMENT (CAPITAL GAINS) ACT 1986 No. 52 of 1986 - SECT 30

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

"(1B) For the purposes of this Division, the taxable income of a taxpayer for
a year shall, if by virtue of Part IIIA the assessable income of the taxpayer
for that year included a net capital gain within the meaning of that Part, be
taken to be the amount that would have been that taxable income if that net
capital gain had not been so included.".