Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)

Schedule 2   Taxation amendments

Part 2   Amendments commencing at the same time as section 3 of the Clean Energy Act 2011 commences

Income Tax Assessment Act 1997

17   After section 118-13

Insert:

118-15 Registered emissions units

(1) A*capital gain or*capital loss you make from a*registered emissions unit is disregarded.

(2) A*capital gain or*capital loss you make from a right to receive a*free carbon unit is disregarded.

(3) A*capital gain or*capital loss you make from a right to receive an*Australian carbon credit unit is disregarded.