Tax Laws Amendment (2009 Measures No. 2) Act 2009 (42 of 2009)
Schedule 1 Tax treatment of payments under financial claims scheme
Income Tax Assessment Act 1997
18 At the end of subsection 104-25(5)
Add:
Note 7: A capital gain or loss you make from the meeting of your entitlement under Division 2AA (Financial claims scheme for account-holders with insolvent ADIs) of Part II of the Banking Act 1959 or Part VC (Financial claims scheme for account-holders with insolvent general insurers) of the Insurance Act 1973 is disregarded: see sections 253-10 and 322-30 of this Act.
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