Tax Laws Amendment (2006 Measures No. 4) Act 2006 (168 of 2006)
Schedule 4 CGT and foreign residents
Part 3 Consequential amendments
Financial Corporations (Transfer of Assets and Liabilities) Act 1993
13 Section 19
Omit "had, while it is an asset of the receiving corporation, the necessary connection with Australia", substitute "is, while it is an asset of the receiving corporation, taxable Australian property".
Note: The heading to section 19 is altered by omitting " has necessary connection with Australia " and substituting " is taxable Australian property ".
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