Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)

Schedule 7   Technical corrections

Income Tax Assessment Act 1997

8   Paragraph 58-10(2)(a)

Repeal the paragraph, substitute:

(a) the asset was used by the Commonwealth, the State, the Territory or the *exempt entity in performing functions, or engaging in activities, that did not constitute the carrying on of a *business by the Commonwealth, the State, the Territory or the exempt entity and the asset is used by the purchaser or another entity in performing those functions or engaging in those activities as part of carrying on a business; or