Tax Law Improvement Act 1997 (121 of 1997)

Schedule 5   Trading stock (and some related matters)

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

62   Before subsection 37(1)

Insert:

(1A) Subsection (1) applies only to property devolving as a result of a person dying before 1 July 1997.

Note: Section 70-105 (Death of owner) of the Income Tax Assessment Act 1997 applies to property devolving as a result of a person dying on or after 1 July 1997.