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INCOME TAX ASSESSMENT ACT 1997 - SECT 109.10

When you acquire a CGT asset without a CGT event

                   This table sets out some specific rules for the circumstances in which, and the time at which, you acquire a * CGT asset otherwise than as a result of a * CGT event happening.

 

Acquisition rules (no CGT event)

Item

In these circumstances

You acquire the asset at this time:

1

You (or your * agent) construct or create a * CGT asset, and you own it when the construction is finished or the asset is created

when the construction, or work that resulted in the creation, started

2

A company issues or allots * equity interests or * non-equity shares in the company to you

when contract is entered into or, if none, when equity interests or non-equity shares issued or allotted

3

A trustee of a unit trust issues units in the trust to you

when contract is entered into or, if none, when units issued

Table of sections

109-50      Effect of this Subdivision

109-55      Other acquisition rules

109-60      Acquisition rules outside this Part and Part 3-3



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