Income Tax Assessment Act 1997
View history note
Hide history noteIf you acquired the original asset on or after 20 September 1985:
(a) the first element of the replacement asset ' s cost base is replaced by the original asset ' s cost base at the time you acquired the replacement asset; and
(b) the first element of the replacement asset ' s reduced cost base is replaced by the original asset ' s reduced cost base at the time you acquired the replacement asset.
Note 1:
Some replacement-asset roll-overs involve other rules that affect the cost base or reduced cost base of the replacement asset.
Note 2:
If you acquired the original asset before 20 September 1985, you are taken to have acquired the replacement asset before that day: see Subdivision 124-A .
Note 3:
The reduced cost base may be further modified if the replacement asset roll-over happens after a demerger: see section 125-170 .
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