Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)
Schedule 2 Various amendments relating to consolidated groups
Part 6 Adjustments for errors etc.
Taxation Administration Act 1953
22 Subsection 284-80(2) in Schedule 1
Insert:
tax on capital gain means the product of:
(a) the *capital gain that the *head company makes as a result of *CGT event L6 happening as mentioned in section 104-525 of the Income Tax Assessment Act 1997; and
(b) the *corporate tax rate in respect of taxable income for the income year in which that CGT event happens.
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