Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 2   Small business relief for CGT events

Income Tax Assessment Act 1997

12   Application

(1) The amendments made by this Schedule apply to CGT events happening in the 2007-08 income year or later income years.

(2) For the purposes of section 292-80 of the Income Tax (Transitional Provisions) Act 1997, the previous 2 items of this Schedule also apply to CGT events happening in the period mentioned in subsection 292-80(1) of that Act.