Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5   Consolidation

Part 12   Removal of CGT event L7

Income Tax (Transitional Provisions) Act 1997

131   Application provision

(1) The amendments made by this Part apply on and after 1 July 2002.

(2) However, the amendments made by this Part do not apply in relation to a CGT event that:

(a) is CGT event L7; and

(b) happens before the day on which the Bill that became this Act was introduced into the House of Representatives; and

(c) gives rise to a capital loss.