Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)
Schedule 10 Technical corrections and amendments
Part 1 Technical corrections and amendments commencing on Royal Assent
Income Tax Assessment Act 1997
131 At the end of Subdivision 152-E
152-430 15-year rule has priority
This Subdivision does not apply to a *capital gain to which Subdivision 152-B (15-year exemption) applies.
Note: Under that Subdivision, such a gain is entirely disregarded, so there is no need for any further concession to apply.
© 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).