Pt 3-1 inserted by No 46 of 1998.
Div 104 inserted by No 46 of 1998.
SECTION 104-107A AMIT - cost base reduction exceeds cost base: CGT event E10
(a) you are a *member of an *AMIT in respect of an income year because you have a *CGT asset that is your unit or your interest in the AMIT; and
(b) the *cost base of that asset is reduced under subsection 104-107B(2) at a time; and
(c) the asset's *AMIT cost base net amount for the income year in which the reduction occurs exceeds the cost base of the asset.
If you make a capital gain, the cost base and reduced cost base of the CGT asset are reduced to nil (see paragraph 104-107B(2)(a)).
You cannot make a capital loss.
S 104-107A inserted by No 53 of 2016, s 3 and Sch 2 item 3, effective 5 May 2016. For application provision, see note under Div 276 heading.