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

2   CGT (new Parts 3-1, 3-3 and 3-5)

3   Consequential amendment of the Income Tax Assessment Act 1936

167   Subsection 110(1)

Insert:

notional CGT event means:

(a) a CGT event that involves a CGT asset (unless a capital gain or capital loss arising from the event is to be disregarded); or

(b) a CGT event:

(i) that involves a CGT asset; and

(ii) for which there would be a roll-over under Part 3-3 of the Income Tax Assessment Act 1997 if subsection 306(1) of this Act applied to that asset;

(unless a capital gain or capital loss arising from the event would have to be disregarded even without the roll-over).