INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 138 - Value shifts between companies under common ownership  

Subdivision 138-A - Application  

SECTION 138-7 (ARCHIVE)   Apply the 1936 Act in certain cases  

138-7(1)    
This section applies if:


(a) the CGT event that is a trigger event under Division 138 of the Income Tax Assessment Act 1997 happened before the start of your 1998-99 income year; and


(b) apart from this section, the trigger event would require you to modify the cost base of a CGT asset under that Division in relation to another CGT event that happens in your 1998-99 income year or a later one.

138-7(2)    
You work out the cost base modification under Division 19A of Part IIIA of the Income Tax Assessment Act 1936 as in force at the time of the trigger event, taking into account provisions of other Acts that amended that Part of that Act and that affected the operation of that Division at that time.

 View history note

 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.