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 2 Consequential amendments
2 Division 2 - Amendments consequential on defining complying superannuation entity
Income Tax Assessment Act 1997
32 Section 12-5 (table item headed 'capital gains')
Repeal the item, substitute:
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capital gains |
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beneficiary whose assessable income includes share of net income of trust with net capital gain |
115-215 |
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no deduction for an amount that would otherwise be deductible only because a net capital gain is included in assessable income |
51AAA |