Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

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Division 124 - Replacement-asset roll-overs  

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Subdivision 124-C - Statutory licences  

SECTION 124-155   Roll-over consequences - all original licences were post-CGT  

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124-155(1)    
This section applies if you *acquired the original licence (or all of the original licences) on or after 20 September 1985.

124-155(2)    
The first element of the *cost base of the new licence (or of each of the new licences) is such amount as is reasonable having regard to:


(a) the total of the cost bases of all the original licences; and


(b) the number, *market value and character of the original licences; and


(c) the number, market value and character of the new licences.

124-155(3)    
The first element of the *reduced cost base of the new licence (or of each of the new licences) is such amount as is reasonable having regard to:


(a) the total of the reduced cost bases of all the original licences; and


(b) the number, *market value and character of the original licences; and


(c) the number, market value and character of the new licences.

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