Tax Laws Amendment (2008 Measures No. 3) Act 2008 (91 of 2008)

Schedule 1   Shareholder and unitholder rights

Income Tax Assessment Act 1997

7   At the end of Subdivision 112-A

Add:

112-37 Put options

The first element of the*cost base and*reduced cost base of a right to *dispose of a *share in a company that you *acquire as a result of *CGT event D2 happening to the company is the sum of:

(a) the amount that is included in your assessable income as ordinary income as a result of your acquisition of the right; and

(b) the amount (if any) that you paid to acquire the right.