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
47 Paragraph 152-305(1)(b)
Omit “if you were under 55 just before you received an amount of *capital proceeds from the *CGT event - an amount equal to the *eligible termination payment mentioned in subsection 152-310(2)”, substitute “if you are under 55 just before you make the choice - an amount equal to the *eligible termination payment mentioned in paragraph 152-310(2)(a)”.
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