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
286 Section 121AS (table item 2, column headed 'Modification')
Repeal the cell, substitute:
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Subdivision 126-B of the Income Tax Assessment Act 1997 (about roll-overs for transfers) applies as if the life insurance company and the other company were members of the same wholly-owned group within the meaning of that Act. |