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
499 Paragraph 245-65(2A)(b) of Schedule 2C
Repeal the paragraph, substitute:
(b) the forgiveness of the debt was a CGT event involving a CGT asset having the necessary connection with Australia.