In working out the cost base and reduced cost base of a CGT asset:
(a) that you acquired before 16 August 1989; and
(b) to which paragraph 112-20(2)(b) or (c), or item 5 or 6 in the table in subsection 112-20(3), of the Income Tax Assessment Act 1997 would apply (apart from this section);
disregard subsections 112-20(2) and (3) of that Act.
Note: This section preserves the pre-16 August 1989 position for, among other things, shares or units issued or allotted to you by allowing the market value substitution rule to apply.
Table of sections
112-100 Effect of terminated gold mining exemptions