Treasury Laws Amendment (2018 Measures No. 5) Act 2019 (15 of 2019)

Schedule 1   AMIT technical amendments

Taxation Administration Act 1953

29   Paragraph 12A-110(3)(b) in Schedule 1

Repeal the paragraph, substitute:

(b) the total of each *capital loss of the AMIT from a *CGT event that:

(i) happened in the income year to a CGT asset that is not taxable Australian property; and

(ii) has been applied against a capital gain from a CGT event that happened in relation to a CGT asset that is taxable Australian property;

but only to the extent that each such capital loss has been so applied in the income year;

(c) the total of each amount to which subsection (3A) applies in relation to the income year.