Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-3
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CAPITAL GAINS AND LOSSES: SPECIAL TOPICS
This section applies if you *acquired the original licence (or all of the original licences) on or after 20 September 1985. 124-155(2)
The first element of the *cost base of the new licence (or of each of the new licences) is such amount as is reasonable having regard to:
(a) the total of the cost bases of all the original licences; and
(b) the number, *market value and character of the original licences; and
(c) the number, market value and character of the new licences. 124-155(3)
The first element of the *reduced cost base of the new licence (or of each of the new licences) is such amount as is reasonable having regard to:
(a) the total of the reduced cost bases of all the original licences; and
(b) the number, *market value and character of the original licences; and
(c) the number, market value and character of the new licences.
Division 124
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Replacement-asset roll-overs
Subdivision 124-C
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Statutory licences
SECTION 124-155
Roll-over consequences
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all original licences were post-CGT
124-155(1)
This section applies if you *acquired the original licence (or all of the original licences) on or after 20 September 1985. 124-155(2)
The first element of the *cost base of the new licence (or of each of the new licences) is such amount as is reasonable having regard to:
(a) the total of the cost bases of all the original licences; and
(b) the number, *market value and character of the original licences; and
(c) the number, market value and character of the new licences. 124-155(3)
The first element of the *reduced cost base of the new licence (or of each of the new licences) is such amount as is reasonable having regard to:
(a) the total of the reduced cost bases of all the original licences; and
(b) the number, *market value and character of the original licences; and
(c) the number, market value and character of the new licences.
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