Income Tax Assessment Act 1997
If a cost base modification replaces an element of the *cost base of a *CGT asset with an amount, this Part and Part 3-3 apply to you as if you had paid that amount.
An individual pays $10,000 to acquire an option. The individual dies and the option devolves to his legal personal representative, who exercises the option.
Section 134-1 applies to the legal personal representative as if the representative had paid $10,000 for the option.