Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 14   Gains and losses

Part 4   Income Tax Assessment Act 1997 (revenue losses)

45   Subsection 165-60(7)

Repeal the subsection, substitute:

(7) Full year amounts are amounts referred to in paragraphs (2)(a) and (b), so far as they arenot reasonably attributable to a period, but do not include any part of a capital gain that forms part of a net capital gain. Full year amounts are brought in at a later stage of the process of calculating the company's taxable income for the income year.