Treasury Laws Amendment (2019 Measures No. 3) Act 2020 (64 of 2020)

Schedule 3   Miscellaneous amendments

Part 2   Amendments commencing first day of the next quarter

Income Tax Assessment Act 1997

92   After subsection 292-102(3)

Insert:

Market value substitution rule

(3A) In working out *capital proceeds for the purposes of paragraph (1)(b) or (3)(b), disregard section 116-30 to the extent that it has the effect of increasing those capital proceeds.