Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 253.10

    Disregard a * capital gain or * capital loss you make:

  (a)   because of the operation of section   16AI of the Banking Act 1959 ; or

  (b)   because your entitlement under Subdivision C of Division   2AA of Part   II of that Act is met.

Note:   Section   16AI of the Banking Act 1959 reduces the right of an account - holder who has a protected account with a declared ADI to be paid an amount by the ADI, by the account - holder's entitlement under Subdivision C of Division   2AA of Part   II of that Act to be paid an amount by APRA in connection with the account.