Income Tax Assessment Act 1936
Subject to this section, for the purposes of applying this Act in calculating the attributable income of the eligible CFC, a commencing day asset of the eligible CFC is taken to have been acquired, for the purposes of Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 (about CGT), by it on its commencing day.
(Repealed by No 46 of 1998) 411(3) [Determination of cost base]
Subsection (1) does not apply for the purposes of determining the cost base to the eligible CFC of an asset.
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