Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 112 - Modifications to cost base and reduced cost base  

Guide to Division 112  

SECTION 112-5   Discussion of modifications  

112-5(1)    
Modifications can occur from the time you acquired the CGT asset to when a CGT event happens in relation to it.

Note:

You should keep records of the modifications: see Division 121 .

112-5(2)    
Most modifications replace the first element (what you paid for a CGT asset) of the cost base and reduced cost base of the asset.

112-5(3)    
Subdivision 112-A contains operative provisions setting out the general situations that may result in a modification to the general rules.

112-5(4)    
Subdivision 112-B (which is a guide) has a number of tables (each one covering a specialist topic) that tell you each situation that may result in a modification to the general rules.

112-5(5)    
Subdivision 112-C (which is a guide) explains what a replacement-asset roll-over is and how it can modify the cost base or reduced cost base.

112-5(6)    
Subdivision 112-D (which is a guide) explains what a same-asset roll-over is and how it can modify the cost base or reduced cost base.

112-5(7)    

Section 230-505 provides special rules for working out the amount of consideration for an asset if the asset is a *Division 230 financial arrangement or a Division 230 financial arrangement is involved in that consideration.