Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

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Division 110 - Cost base and reduced cost base  

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Guide to Division 110  

SECTION 110-10  

110-10   Rules about cost base not relevant for some CGT events  

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This table sets out each CGT event for which you do not need to know what the cost base or reduced cost base of a CGT asset is to work out if you make a capital gain or loss. The section describing the event tells you what amount is relevant instead.


Rules about cost base not relevant for some CGT events
Event Number Description of event: See section:
C3 End of option to acquire shares etc. 104-30  
.
D1 Creating contractual or other rights 104-35  
.
D2 Granting an option 104-40  
.
D3 Granting a right to income from mining 104-45  
.
E9 Creating a trust over future property 104-105  
.
F1 Granting a lease 104-110  
.
F3 Lessor pays lessee to get lease changed 104-120  
.
F5 Lessor receives payment for changing lease 104-130  
.
H1 Forfeiture of deposit 104-150  
.
H2 Receipt for event relating to a CGT asset 104-155  
.
J5 Failure to acquire replacement asset and to incur fourth element expenditure after a roll-over 104-197  
.
J6 Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain 104-198  
.
K2 Bankrupt pays amount in relation to debt 104-210  
.
K7 Balancing adjustment event happens to depreciating asset 104-235  
.
K9 Carried interests 104-255  
.
K10 You make a forex realisation gain covered by item 1 of the table in subsection 775-70(1) 104-260  
.
K11 You make a forex realisation loss covered by item 1 of the table in subsection 775-75(1) 104-265  
.
K12 Foreign hybrid loss exposure adjustment 104-270  
.
L1 Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group or MEC group 104-500  
.
L2 Amount remaining after step 3A etc. of joining allocable cost amount is negative 104-505  
.
L3 Tax cost setting amounts for retained cost base assets exceed joining allocable cost amount 104-510  
.
L4 No reset cost base assets against which to apply excess of net allocable cost amount on joining 104-515  
.
L5 Amount remaining after step 4 of leaving allocable cost amount is negative 104-520  
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L6 Errors in tax cost setting amounts for entity joining consolidated group or MEC group 104-525  
.
L7 (Repealed by No 56 of 2010)    
L8 Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated 104-535  

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