INCOME TAX ASSESSMENT ACT 1997
Subsection (2) applies if:
(a) paragraph 104-107G(3)(a) applies in respect of the *CGT asset ' s *AMIT cost base net amount for the income year; and
(b) that AMIT cost base net amount exceeds the cost of the *CGT asset just before the time mentioned in subsection 104-107G(5) . 104-107H(2)
Include in your assessable income for the income year in which that time occurs:
(a) if the cost of the *CGT asset was nil just before that time - the cost reduction amount; or
(b) otherwise - the excess mentioned in paragraph (1)(b). 104-107H(3)
Subsection (2) applies despite subsection 104-107F(3) . 104-107H(4)
For the purposes of section 118-20 , treat this section as being outside of this Part.
Section 118-20 deals with reducing capital gains if an amount is otherwise assessable.
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