Income Tax Assessment Act 1936

Part IX repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-2008 income year and later years.

Former Part IX inserted by No 97 of 1989 and amended by No 105 of 1989.

Div 10 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years.

Div 10 inserted by No 105 of 1989.

S 308 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years. S 308 formerly read:

SECTION 308 COST BASE OF 30 JUNE 1988 ASSET  
308(1) [First element of cost base]  

The first element of the cost base of each 30 June 1988 asset of the taxpayer is the greater of the asset ' s market value (at the end of 30 June 1988) and the asset ' s cost base (on that day).

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History

S 308(1) substituted by No 46 of 1998.

308(2) [First element of reduced cost base]  

The first element of the reduced cost base of each 30 June 1988 asset of the taxpayer is the lesser of the asset ' s market value (at the end of 30 June 1988) and the asset ' s cost base (on that day).

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History

S 308(2) substituted by No 46 of 1998.

S 308 inserted by No 105 of 1989.