Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 316.105

Cost base and time of acquisition of shares and certain rights issued under demutualisation

First element of cost base

  (1)   The first element of the * cost base and * reduced cost base of a * CGT asset is the amount worked out using the formula in subsection   (2) if:

  (a)   the asset is a CGT asset (a demutualisation asset ) covered by section   316 - 110; and

  (b)   the asset is issued to an entity covered by section   316 - 115.

  (2)   The formula is:

Start formula Value of the *CGT asset when it was issued times Valuation factor worked out under section 316-65 end formula

Time of acquisition

  (3)   The entity is taken to have * acquired the * CGT asset at the time it is issued.


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