Treasury Laws Amendment (2018 Measures No. 2) Act 2020 (8 of 2020)

Schedule 2   Innovation measures

Part 1   Venture capital investments

Income Tax Assessment Act 1997

1   Subsection 118-408(2) (at the end of the definition of valuation year capital gain)

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Work out the capital gain based on what the *capital proceeds would have been, and on other matters relating to the amount of the gain being determined on a reasonable basis, if the CGT event resulting in the gain had happened at the end of that period.