Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:2_19
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 2 cl 19
Character Range: 484746–485224

19  After subsection 25A(1A)
Insert:

 (1B) This section does not apply to a profit arising in the 1997-98 year of income or a later year of income from the carrying on or carrying out of a profit-making undertaking or scheme, even if the undertaking or scheme was entered into, or began to be carried on or carried out, before the 1997-98 year of income.

Note: Section 15-15 (Profit-making undertaking or plan) of the Income Tax Assessment Act 1997 deals with such a profit.