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

520   Subsection 57-25(1) of Schedule 2D

Repeal the subsection, substitute:

(1) This section applies to:

(a) the disposal of an asset by the transition taxpayer after the transition time; and

(b) a CGT event that happens after the transition time in relation to an asset owned by the transition taxpayer;

where the transition taxpayer owned the asset at all times from the transition time until the disposal or the CGT event.