Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

2   CGT (new Parts 3-1, 3-3 and 3-5)

4   Consequential amendment of other Acts

Civil Aviation Legislation Amendment Act 1995

529   Subsections 19(2) and (3)

Repeal the subsections, substitute:

(2) The surrender by AA of an equitable interest in respect of an eligible building is not a CGT event for the purposes of applying the Income Tax Assessment Act 1997 to AA.

(3) The granting of a lease by the Federal Airports Corporation to AA or CASA in respect of an eligible building is not a CGT event for the purposes of applying the Income Tax Assessment Act 1997 to the Federal Airports Corporation.