Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 124.800

  (1)   If, in consequence of the * arrangement, you exchange an interest that you * acquired before 20   September 1985 for an interest in the replacement entity, the first element of the * cost base and * reduced cost base of the interest in the replacement entity is its * market value just after you acquired it.

  (2)   The * cost base and * reduced cost base of the interest in the replacement entity is reduced if all or part of a * capital gain from * CGT event K6 happening is disregarded because of subsection   104 - 230(10). The amount of the reduction is the amount of the * capital gain you disregard under that subsection.

Note 1:   The full list of CGT events is in section   104 - 5.

Note 2:   Subsection   104 - 230(10) provides that a capital gain from CGT event K6 is disregarded to the extent that you could have chosen a roll - over under this Subdivision if your original interest had been post - CGT.