Tax Laws Amendment (2006 Measures No. 4) Act 2006 (168 of 2006)

Schedule 4   CGT and foreign residents

Part 3   Consequential amendments

Income Tax Assessment Act 1997

51   Paragraph 124-300(7)(b)

Repeal the paragraph, substitute:

(b) if you are a foreign resident at that time:

(i) the original rights or original option were *taxable Australian property just before that time; and

(ii) the new rights or new option are taxable Australian property when they are issued.