Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 10   Technical corrections and amendments

Part 1   Technical corrections and amendments commencing on Royal Assent

Income Tax Assessment Act 1997

131   At the end of Subdivision 152-E


152-430 15-year rule has priority

This Subdivision does not apply to a *capital gain to which Subdivision 152-B (15-year exemption) applies.

Note: Under that Subdivision, such a gain is entirely disregarded, so there is no need for any further concession to apply.