Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

10   Amendment of Chapter 6 (the Dictionary) of the Income Tax Assessment Act 1997

97   Subsection 995-1(1)

Insert:

net value means:

(a) for an entity - the amount by which the sum of the market values of the assets of the entity exceeds the sum of its liabilities; or

(b) for a *business - the amount by which the sum of the market values of the assets of the business (including goodwill) exceeds the sum of its liabilities.