Finance (No. 2) Act 2023 · Updated to 29 Dec 2023 · Chapter II · Amendments to the Income Tax Act 1967
6. Amendment of section 4b
Feedback & supportThe principal Act is amended by substituting for section 4b the following section:
“Non-business income 4b. For the purposes of section 4, gains or profit from a business shall not include—
(a)
any interest that first becomes receivable by a person in the basis period for a year of assessment other than interest where subsection 24(5) applies; and
(b)
gains or profits from the disposal of capital asset other than gains or profits where subsection 24(1)
applies.”.