Commonwealth Numbered Acts

INCOME TAX ASSESSMENT AMENDMENT (CAPITAL GAINS) ACT 1986 No. 52 of 1986 - SECT 15

15. Section 112A of the Principal Act is amended by inserting after
sub-section (1) the following sub-section:

"(1A) The reference in sub-section (1) to an amount of income derived during
the year of income from the assets included in an Australian statutory fund of
a life assurance company or in any other fund maintained by such a company in
respect of the life assurance business of the company shall be construed as
including a reference to an amount of a capital gain that is to be taken for
the purposes of Part IIIA to have accrued to the company during the year of
income as a result of the disposal of an asset included in such a fund.".