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

90   Paragraphs 24P(2)(b) and (c)

Repeal the paragraphs, substitute:

(b) the first element of the asset's cost base in the hands of the taxpayer (at the end of 30 June 1991) is its market value at that time.