Tax Laws Amendment (2006 Measures No. 4) Act 2006 (168 of 2006)

Schedule 4   CGT and foreign residents

Part 3   Consequential amendments

Income Tax Assessment Act 1936

22   Subsection 406(3)

Repeal the subsection, substitute:

(3) In determining whether a CGT asset is taxable Australian property, disregard the residency assumption.