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
483 Paragraph 461(1)(a)
Omit "to take into account the amount of consideration received, entitled to be received or taken to have been received, by the taxpayer in respect of the disposal of an asset, or".
Note: The heading to section 461 is altered by omitting " disposal consideration " and substituting " capital proceeds ".