Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 14   Gains and losses

Part 1   Income Tax Assessment Act 1936 (revenue losses)

4   After subsection 50E(1)

Insert:

(1A) For the purposes of this Subdivision, so much of any amount included in a company's assessable income of a year of income under section 97 or 98A as is a capital gain that forms part of a net capital gain is not a divisible amount in relation to the company in relation to the year of income.