INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 19A - Transfers of assets between companies under common ownership  

Subdivision F - Other adjustments  

SECTION 160ZZRG  

160ZZRG   INDIRECT EQUITY OR DEBT INTERESTS IN TRANSFEROR - REDUCTION IN COST BASE ETC.  
If:

(a) at the first asset disposal time, a taxpayer (in this section called the ``second taxpayer'' ) held an asset, being:

(i) an eligible equity interest (other than a share) in the transferor that was acquired by the second taxpayer on or after 20 September 1985; or

(ii) an eligible debt interest (other than a loan) in the transferor that was acquired by the second taxpayer on or after 20 September 1985; and

(b) the second taxpayer disposes of that asset;

the cost base, the indexed cost base or the reduced cost base of the asset to the second taxpayer is reduced by such amount as is reasonable having regard to the reduction in value of the asset resulting from the disposal of the first asset.