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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 110 - Cost base and reduced cost base  

SECTION 110-10  

110-10  Rules about cost base not relevant for some CGT events  

 View history reference [No equivalent]
This table sets out each CGT event for which you do not need to know what the cost base or reduced cost base of a CGT asset is to work out if you make a capital gain or loss. The section describing the event tells you what amount is relevant instead.
Rules about cost base not relevant for some CGT events
Event NumberDescription of event:See section: 
C3End of option to acquire shares etc.104-30 
.......... .
D1Creating contractual or other rights104-35 
.......... .
D2Granting an option104-40 
.......... .
D3Granting a right to income from mining104-45 
.......... .
E9Creating a trust over future property104-105 
.......... .
F1Granting a lease104-110 
.......... .
F3Lessor pays lessee to get lease changed104-120 
.......... .
F5Lessor receives payment for changing lease104-130 
.......... .
H1Forfeiture of deposit104-150 
.......... .
H2Receipt for event relating to a CGT asset104-155 
.......... .
J5Failure to acquire replacement asset and to incur fourth element expenditure after a roll-over104-197 
.......... .
J6Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain104-198 
.......... .
K2Bankrupt pays amount in relation to debt104-210 
.......... .
K7Balancing adjustment event happens to depreciating asset104-235 
.......... .
K9Carried interests104-255 
.......... .
K10You make a forex realisation gain covered by item 1 of the table in subsection 775-70(1)104-260 
.......... .
K11You make a forex realisation loss covered by item 1 of the table in subsection 775-75(1)104-265 
.......... .
K12Foreign hybrid loss exposure adjustment104-270 
.......... .
L1Reduction under section 705-57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group or MEC group104-500 
.......... .
L2Amount remaining after step 3A etc. of joining allocable cost amount is negative104-505 
.......... .
L3Tax cost setting amounts for retained cost base assets exceed joining allocable cost amount104-510 
.......... .
L4No reset cost base assets against which to apply excess of net allocable cost amount on joining104-515 
.......... .
L5Amount remaining after step 4 of leaving allocable cost amount is negative104-520 
.......... .
L6Errors in tax cost setting amounts for entity joining consolidated group or MEC group104-525 
.......... .
L7(Repealed by No 56 of 2010)  
..........
L8Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated104-535 


 



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