Tax Laws Amendment (2008 Measures No. 6) Act 2009 (14 of 2009)

Schedule 4   Minor amendments

Part 1   General

Tax Laws Amendment (Budget Measures) Act 2008

51   Item 15 of Schedule 1

Repeal the item, substitute:

15 Application

(1) Subject to subitem (2), the amendment made by item 14 applies in relation to CGT events happening after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008 (the Budget time ).

(2) An entity may choose that the amendment made by item 14 applies to a CGT event that happened:

(a) after the start of the entity's 1998-99 income year; and

(b) before the Budget time.