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

2   CGT (new Parts 3-1, 3-3 and 3-5)

3   Consequential amendment of the Income Tax Assessment Act 1936

410   Subsection 221YA(1B)

Repeal the subsection, substitute:

(1B) For the purposes of this Division, disregard a taxpayer's net capital gain for a year in working out the taxpayer's taxable income for that year.