New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)
Schedule 16 Demerger relief
Part 3 Consequential amendments
Income Tax Assessment Act 1997
29 After section 112-53
Insert:
112-54 Demergers
|
Demergers |
|||
|---|---|---|---|
|
Item |
In this situation: |
Element affected: |
See section: |
|
1 |
There is a roll-over under Subdivision 125-B after a demerger |
First element of cost base and reduced cost base of new interests and remaining original interests |
125-80 |
|
2 |
There is a CGT event under a demerger but no roll-over under Subdivision 125-B |
First element of cost base and reduced cost base of new interests and remaining original interests |
125-85 |
|
3 |
There is a cost base adjustment under Subdivision 125-B but no CGT event under a demerger |
First element of cost base and reduced cost base of new interests and remaining original interests |
125-90 |