Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 104 - CGT events  

Subdivision 104-E - Trusts  

SECTION 104-107E   AMIT cost base increase amount  

104-107E(1)    
The *CGT asset ' s AMIT cost base increase amount for the income year is the total of the 2 amounts set out in the following subsections.

First amount - total of amounts not related to capital gains

104-107E(2)    
The first amount is the total of all of the following amounts included in your assessable income or *non-assessable non-exempt income for the income year in respect of the *AMIT, to the extent that they are reasonably attributable to the *CGT asset:

(a) amounts so included because of the operation of section 276-80 ;

(b) amounts so included otherwise than because of the operation of section 276-80 (as reduced in accordance with section 276-100 ).

104-107E(3)    
For the purposes of subsection (2), disregard the *AMIT ' s *net capital gain (if any) for the income year.

Second amount - total of amounts related to capital gains

104-107E(4)    
The second amount is the total of each *determined member component of a character relating to *capital gains that:

(a) you have for the income year in respect of the *AMIT; and

(b) is taken into account under section 276-80 .

Residence assumption

104-107E(5)    
For the purposes of working out amounts under subsections (2) and (4), assume that you are an Australian resident.