Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)

Schedule 2   Taxation amendments

Part 2   Amendments commencing at the same time as section 3 of the Clean Energy Act 2011 commences

Taxation Administration Act 1953

73   After subsection 45-120(5) in Schedule 1

Insert:

Gross proceeds on disposal of registered emissions units included in instalment income

(5A) Your instalment income for a period also includes an amount that section 420-25 of theIncome Tax Assessment Act 1997 includes in your assessable income, for the income year that is or includes that period, because you cease to*hold a*registered emissions unit during that period.