Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 124.1145

Roll - over consequences--all original entitlements post - CGT

  (1)   This section applies if you * acquired the original entitlement (or all of the original entitlements) on or after 20   September 1985.

  (2)   The first element of the * cost base of the retained entitlement (or of each of the retained entitlements) is such amount as is reasonable having regard to:

  (a)   the total of the cost bases of all the original entitlements; and

  (b)   the number and * market value of the original entitlements; and

  (c)   the number and market value of the retained entitlements.

  (3)   The first element of the * reduced cost base of the retained entitlements is worked out similarly.

  (4)   For the purposes of paragraph   (2)(c), the * market value of the retained entitlements is their market value just after the * CGT event referred to in section   124 - 1135 happens.


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