Income Tax Assessment Act 1997
This section applies if:
(a) you choose to obtain a roll-over under section 124-520 or 124-525 relating to *shares you have in the company on account of the following (your original assets ):
(i) your interest in the body mentioned in that section;
(ii) your other rights relating to the body mentioned in that section; and
(b) you *acquired some of your original assets before 20 September 1985 and the rest of them on or after that day. 124-530(2)
You are taken to have *acquired so many of the *shares before 20 September 1985 as is reasonable, having regard to:
(a) the number and *market value of your original assets; and
(b) the number and market value of the shares. 124-530(3)
The first element of the *cost base of each of the *shares not taken by subsection (2) to have been *acquired before 20 September 1985 (your post-CGT shares ) is such amount as is reasonable having regard to:
(a) the total of the cost bases of your original assets that you acquired on or after 20 September 1985; and
(b) the number and *market value of your post-CGT shares. 124-530(4)
The reduced cost base of each of your post-CGT shares is worked out similarly. 124-530(5)
This section has effect despite subsections 124-15(5) and (6) .
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