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
90 Paragraphs 24P(2)(b) and (c)
Repeal the paragraphs, substitute:
(b) the first element of the asset's cost base in the hands of the taxpayer (at the end of 30 June 1991) is its market value at that time.
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