New Business Tax System (Integrity and Other Measures) Act 1999 (Incorporating amendments up to Act No. 78 of 2001) (169 of 1999)
Schedule 9 Concessions for capital gains by individuals and some other entities
Part 1 New rules
Income Tax Assessment Act 1997
12 At the end of section 114-5
Add:
Indexation for some entities only if indexation chosen
(2) Indexation is not relevant to the *capital gain of an entity mentioned in an item of the table from a *CGT event happening after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999, unless the relevant entity mentioned in that item has chosen that the *cost base include indexation for the purposes of section 110-25:
|
Entities for which indexation is not relevant unless chosen |
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|---|---|---|
|
Item |
Indexation is not relevant to the capital gain of this entity: |
Unless this entity has chosen that the cost base include indexation: |
|
1 |
An individual |
The individual |
|
2 |
A *complying superannuation entity |
The trustee of the complying superannuation entity |
|
3 |
A trust |
The trustee of the trust |