Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)
Schedule 2 Taxation amendments
Part 2 Amendments commencing at the same time as section 3 of the Clean Energy Act 2011 commences
Income Tax Assessment Act 1997
14 Section 104-5 (before table item relating to CGT event K2)
Insert:
|
K1 As the result of an incoming international transfer of a*carbon unit, an*international emissions unit or an*Australian carbon credit unit from your foreign account or your nominee's foreign account, you start to hold the unit as a registered emissions unit [See section 104-205] |
when you start to hold the unit as a registered emissions unit |
market value of unitless its cost base |
reduced cost base of unitless its market value |