Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)

Schedule 1   Small business relief for CGT events

Income Tax Assessment Act 1997

11   Paragraph 104-135(1A)(b)

Repeal the paragraph, substitute:

(b) compensation you paid that can reasonably be regarded as a repayment of all or part of the payment; or

(c) an amount referred to in section 152-125 (which exempts a payment of a small business 15-year exemption amount) as an exempt amount.