Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 122-195 Creation of asset 122-195(1)
If the partners choose a roll-over, a *capital gain or *capital loss any partner makes from the trigger event is disregarded.
122-195(2)
The first element of the partner's *cost base of each *share is the amount applicable under this table divided by the number of shares. The first element of each share's *reduced cost base is worked out similarly.
| Creation case | |
| Event No. | Applicable amount |
| D1 | the partner's share of the *incidencal costs incurred that relate to the trigger event |
| . | |
| D2 | the partner's share of the expenditure incurred to grant the option |
| . | |
| D3 | the partner's share of the expenditure incurred to grant the right |
| . | |
| F1 | the partner's share of the expenditure incurred on the grant, renewal or extension of the lease |
The expenditure can include a transfer of property: see section 103-5 .
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