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
449 Section 409
Repeal the section, substitute:
409 Losses before 30 June 1990 to be disregarded
For the purposes of applying this Act in calculating the attributable income of the eligible CFC, capital losses incurred before the end of 30 June 1990 are disregarded.
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