Taxation Laws Amendment Act 1993 (Repealed) (17 of 1993)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 17   Amendment relating to capital gains tax (principal residence)

57   Principal residence

Section 160ZZQ of the Principal Act is amended by inserting after subsection (1AA) the following subsection:

"(1AB) If, under the contract mentioned in subsection (1AA) or another contract entered into in relation to it, the person to whom the legal ownership is to pass has a right or licence to occupy the land or dwelling before legal ownership passes, then that subsection has effect in relation to that person as if the legal ownership began when the licence or right was first exercisable.".