INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 16H - Termination of gold mining exemptions  

Subdivision D - Part IIIA  

SECTION 159GZZZBD  

159GZZZBD   CAPITAL LOSS ADJUSTMENT  
For the purposes of working out the amount of a capital loss that the taxpayer makes from the post-changeover disposal, if the market value of the asset at the changeover time was less than its reduced cost base at that time, the first element of its reduced cost base at the changeover time is that market value.