Treasury Laws Amendment (2023 Measures No. 2) Act 2023 (28 of 2023)

Schedule 3   Tax accounting for primary producer registered emissions units

Income Tax Assessment Act 1997

1   Subsection 392-45(2)

Repeal the subsection, substitute:

(2) Your basic assessable income for an income year is your assessable income for the income year, less:

(a) any amount included in your assessable income under section 82-65, 82-70 or 302-145 (certain employment termination payments and superannuation benefits); and

(b) any *net capital gain included in your assessable income under Division 102.