S 303 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years. S 303 formerly read:
SECTION 303 INTERPRETATION
In this Division, unless the contrary intention appears:
debenture stock, a bond, debenture, certificate of entitlement, bill of exchange, promissory note or other security;
a deposit with a bank or other financial institution;
a secured or unsecured loan; or
any other contract, whether or not in writing, under which a person is liable to pay an amount or amounts, whether or not the liability is secured;
amended by No 44 of 1999.
"30 June 1988 asset"
, in relation to a taxpayer, means a CGT asset owned by the taxpayer at the end of 30 June 1988.
[Reference to taxpayers]
S 303(1) amended by No 46 of 1998.
For the purposes of the application of this Division to a taxpayer in relation to a year of income, a reference in this Division to the taxpayer, in relation to a time before the beginning of the year of income, includes a reference to the taxpayer concerned even if the fund or unit trust was not a complying superannuation fund, a complying ADF or a PST, as the case may be, in relation to the year of income in which that time occurred.
[Calculating amount of payment]
Some provisions of this Division say that a payment can include giving property. To the extent that one does, use the market value of the property in working out the amount of the payment.
S 303(3) substituted by No 46 of 1998.
S 303 inserted by No 105 of 1989.