House of Representatives
New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Bill 2002
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)There is only a taxing event generating a gain in post-CGT to pre-CGT cases.
A gain from a taxing event that happens to a pre-CGT asset that is a down interest is disregarded.
There is no tax event generating a gain for you.
There is no tax event generating a gain for you.
Cost base, reduced cost base and trading stock value at the start of the income year.
See the general comments made in paragraph 16.14 on the quantification of the compliance costs.
The interest holders must hold interests in the head entity of the demerger group. The entity affected may be any entity within the demerger group.