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.