Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

2   CGT (new Parts 3-1, 3-3 and 3-5)

3   Consequential amendment of the Income Tax Assessment Act 1936

126   Before subsection 46A(12B)

Insert:

(12BA) If there was a roll-over under Division 122, 124 or 126 of the Income Tax Assessment Act 1997 (except under Subdivision 124-J, 124-K or 124-L of that Act) for a CGT event that resulted in a shareholder acquiring relevant property, then, for the purposes of subsection (12A), the property's cost base to the shareholder is worked out as if the shareholder had acquired the property for what would, but for the roll-over, have been its cost base for the purpose of working out the amount of a capital gain arising from the event.