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

201   Subsection 116CC(1)

Repeal the subsection, substitute:

(1) The core amounts for a notional CGT event for a non-fund asset are as follows:

(a) any unmodified ordinary income amount;

(b) any unmodified general deduction;

(c) any non-exempt ordinary capital gain;

(d) any ordinary capital loss.

Note: The heading to section 116CC is replaced by the heading "Notional CGT events for non-fund assets".