Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 2   Consolidation etc.

Part 6   Cost base and reduced cost base for allocable cost amount purposes

Income Tax Assessment Act 1997

33   After subsection 705-65(5A)


(5B) For the purposes of working out the *cost base or *reduced cost base of a *membership interest under subsection (1), if:

(a) either or both of the following things happen after the joining time:

(i) money is paid, or becomes required to be paid, in respect of *acquiring the membership interest;

(ii) property is given, or becomes required to be given, in respect of acquiring the membership interest; and

(b) because the thing happened after the joining time, it was not taken into account in working out the first element of the cost base or reduced cost base of the membership interest;

Note: This would be the case if the money was only to be paid etc. if a contingency happened after the joining time.

the thing is nevertheless so taken into account, and taken always to have been so taken into account.