Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 315.145

Cost base adjustment

  (1)   The first element of the * cost base and * reduced cost base of a demutualisation asset issued to the trustee of a lost policy holders trust is its * market value on the day it is issued.

Note:   There is an exception to this rule in Subdivision   315 - D where the asset is a share or right in a holding company with other assets.

Acquisition rule

  (2)   The trustee is taken to have * acquired the demutualisation asset at the time it is issued.