Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 855.35

Reducing a capital gain or loss from a business asset--Australian permanent establishments

             (1)  This section applies to a * CGT asset that is * taxable Australian property under item 3 of the table in section 855-15 because you have used it at any time in carrying on a * business through a permanent establishment (as mentioned in that item) in Australia.

             (2)  The * capital gain or * capital loss you make from a * CGT event in relation to the asset is reduced if you used it in this way for only part of the period from when you * acquired it to when the CGT event happened.

             (3)  The gain or loss is reduced by this fraction:



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