Income Tax Assessment Act 1997
Disregard a *capital gain or *capital loss you make:
(a) because of the operation of section 16AI of the Banking Act 1959 ; or
(b) because your entitlement under Subdivision C of Division 2AA of Part II of that Act is met.
Section 16AI of the Banking Act 1959 reduces the right of an account-holder who has a protected account with a declared ADI to be paid an amount by the ADI, by the account-holder's entitlement under Subdivision C of Division 2AA of Part II of that Act to be paid an amount by APRA in connection with the account.
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