INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 3 - Determination of capital gains and capital losses  

SECTION 160ZI   APPORTIONMENT OF COST BASE UPON DISPOSAL OF PART OF ASSET  

160ZI(1)   [Method of apportionment]  

Where part of an asset is disposed of, each amount (in this subsection referred to as the ``relevant amount'' ) that, under section 160ZH, is attributable to the asset shall be apportioned as follows:

(a) in respect of the part that is disposed of there shall be attributed so much of the relevant amount as bears to the relevant amount the same proportion as the amount of the consideration in respect of the disposal bears to the sum of the amount of that consideration and the market value of the part that remains undisposed of; and

(b) the remainder of the relevant amount shall be attributed to the part that remains undisposed of.

160ZI(2)   [Circumstances where no apportionment required]  

Subsection (1) shall not be taken as requiring the apportionment of an amount that, on the facts, is wholly attributable to the part of an asset that is disposed of, or is wholly attributable to the part of the asset that remains undisposed of.