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
72 Subsection 23AH(8)
Repeal the subsection, substitute:
(8) If the original taxpayer in relation to the foreign branch capital gain is a company, any capital gain (for the purposes of Part 3-1 of the Income Tax Assessment Act 1997) made by the company from the CGT asset is disregarded.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
