Income Tax Assessment Act 1997
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Hide history noteSECTION 122-205 Consequences for the company (creation case) 122-205(1)
There are these consequences for the company in a creation case if the partners choose to obtain a roll-over.
122-205(2)
The first element of the created asset's *cost base (in the hands of the company) is the applicable amount from this table.
| Creation case | |
| Event No. | Applicable amount |
| D1 | the total *incidental costs incurred that relate to the trigger event |
| . | |
| D2 | the total expenditure incurred to grant the option |
| . | |
| D3 | the total expenditure incurred to grant the right |
| . | |
| F1 | the total expenditure incurred on the grant, renewal or extension of the lease |
The expenditure can include a transfer of property: see section 103-5 .
122-205(3)
The first element of the created asset's *reduced cost base (in the hands of the company) is worked out similarly.
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