Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)

Schedule 8   CGT event G3

Income Tax Assessment Act 1997

1   Section 104-5 (table item dealing with CGT event G3)

Repeal the item, substitute:

G3 Liquidator or administrator declares shares or financial instruments worthless
[See section 104-145]

when declaration was made

no capital gain

shares' or financial instruments' reduced cost base