Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

2   CGT (new Parts 3-1, 3-3 and 3-5)

2   Consequential amendment of the Income Tax Assessment Act 1997

21   Subsection 165-60(6A)

Repeal the subsection, substitute:

(6A) A *net capital gain is not attributed to a period.

Note: This is because Subdivision 165-CB provides for how the company must work out its net capital gain for the income year.