New Business Tax System (Integrity and Other Measures) Act 1999 (Incorporating amendments up to Act No. 78 of 2001) (169 of 1999)

Schedule 9   Concessions for capital gains by individuals and some other entities

Part 1   New rules

Income Tax Assessment Act 1997

14   Application and transitional provisions

(1) The amendments of Divisions 100, 102, 104 and 109 of the Income Tax Assessment Act 1997 made by this Part, and Division 115 of that Act, apply to assessments for the income year including 21 September 1999 and for later income years.

(2) The amendments of sections 110-25 and 114-5 of the Income Tax Assessment Act 1997 made by this Part apply to the calculation of a cost base of a CGT asset for a CGT event happening after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999.