Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 1   Denial of certain capital losses

Part 2   General on-going rollover etc. scheme amendments

Income Tax Assessment Act 1936

9   After paragraph 177F(1)(b)

Insert:

or (c) in the case of a tax benefit that is referable to a capital loss or a part of a capital loss being incurred by the taxpayer during a year of income - determine that the whole or a part of the capital loss or of the part of the capital loss, as the case may be, was not incurred by the taxpayer during that year of income;