Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 1   Denial of certain capital losses

Part 2   General on-going rollover etc. scheme amendments

Income Tax Assessment Act 1936

3   After paragraph 177C(1)(b)

Insert:

or (ba) a capital loss being incurred by the taxpayer during a year of income where the whole or a part of that capital loss would not have been, or might reasonably be expected not to have been, incurred by the taxpayer during the year of income if the scheme had not been entered into or carried out;