Taxation Laws Amendment Act (No. 1) 2004 (101 of 2004)

Schedule 10   Foreign hybrids

Part 2   Amendment of the Income Tax Assessment Act 1997

10   After subsection 102-25(2B)

Insert:

(2C) If:

(a) *CGT events happen for which you make *capital gains or *capital losses; and

(b) the capital gains or losses are taken into account in working out a *foreign hybrid net capital loss amount; and

(c) the foreign hybrid net capital loss amount is itself taken into account in determining that *CGT event K12 happens;

CGT event K12 applies in addition to the other CGT events.