INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 109 - Acquisition of CGT assets  

Subdivision 109-A - Operative rules  

SECTION 109-10   109-10   When you acquire a CGT asset without a CGT event  


This table sets out some specific rules for the circumstances in which, and the time at which, you acquire a *CGT asset otherwise than as a result of a *CGT event happening.


Acquisition rules (no CGT event)
Item In these circumstances: You acquire the asset at this time:
1 You (or your *agent) construct or create a *CGT asset, and you own it when the construction is finished or the asset is created when the construction, or work that resulted in the creation, started
.
2 A company issues or allots *equity interests or *non-equity shares in the company to you when contract is entered into or, if none, when equity interests or non-equity shares issued or allotted
.
3 A trustee of a unit trust issues units in the trust to you when contract is entered into or, if none, when units issued


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