Pt 3-1 inserted by No 46 of 1998.
Div 104 inserted by No 46 of 1998.
SECTION 104-107H Effect of AMIT cost base net amount on cost of AMIT membership interest or unit that is a revenue asset - amount included in assessable income
(a) paragraph 104-107G(3)(a) applies in respect of the *CGT asset's *AMIT cost base net amount for the income year; and
(b) that AMIT cost base net amount exceeds the cost of the *CGT asset just before the time mentioned in subsection 104-107G(5).
(a) if the cost of the *CGT asset was nil just before that time - the cost reduction amount; or
(b) otherwise - the excess mentioned in paragraph (1)(b).
Section 118-20 deals with reducing capital gains if an amount is otherwise assessable.
S 104-107H 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.