Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)
Schedule 1 Small business relief for CGT events
Income Tax Assessment Act 1997
40 Section 152-100
Omit “controlling individual throughout the period of ownership and the individual who was the controlling individual”, substitute “significant individual for a total of at least 15 years during which the entity owned the asset and the individual who was the significant individual”.
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