Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)

Schedule 2   Various amendments relating to consolidated groups

Part 2   Cost base and reduced cost base of pre-CGT assets

Income Tax Assessment Act 1997

3   At the end of subsection 126-60(3)

Add:

Note 2: Under section 716-855, where there have been certain roll-overs, the cost base and reduced cost base of pre-CGT assets for the purposes of Part 3-90 (Consolidated groups) are worked out by applying subsection (2), rather than subsection (3), of this section.