Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)
Schedule 2 Consequential amendments relating to Schedule 1 repeals etc.
Part 1 Amendments: general
Income Tax Assessment Act 1936
458 Subsection 396(2)
Repeal the subsection, substitute:
(2) A reference in subsection (1) to a non-taxable Australian asset is a reference to a CGT asset other than one that has the necessary connection with Australia (within the meaning of the Income Tax Assessment Act 1997).