Tax Laws Amendment (2006 Measures No. 1) Act 2006 (32 of 2006)

Schedule 1   Foreign source income exemptions for temporary residents

Part 2   Other amendments

Income Tax Assessment Act 1997

25   Section 112-87 (after table item 1)

Insert:

1A

A temporary resident ceases to be a temporary resident (but remains, at that time, an Australian resident)

First element of cost base and reduced cost base

768-955