Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

10   Amendment of Chapter 6 (the Dictionary) of the Income Tax Assessment Act 1997

12   Subsection 995-1(1)

Insert:

acquire:

(a) a *CGT asset: you acquire a CGT asset at the time worked out under Division 109; and

Note: A CGT asset acquired before 20 September 1985 may be treated as having been acquired on or after that day: see Division 149.

(b) an item of *intellectual property: an entity does not acquire an item of intellectual property merely because a licence relating to a patent, design or copyright is surrendered to the entity.