Income Tax Assessment Act 1997
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Hide history noteSECTION 124-1235 Roll-over consequences - all original interests were post-CGT and pre-UCA 124-1235(1)
If you acquire the new interest in exchange for:
(a) one original interest that you started to *hold on or after 20 September 1985 and before 1 July 2001; or
(b) 2 or more original interests, each of which you started to hold on or after 20 September 1985 and before 1 July 2001;
you are taken to have started to hold the new interest (or all of the new interests) on or after 20 September 1985 and before 1 July 2001.
124-1235(2)
The first element of the *cost base of the new interest (or of each of the new interests) is such amount as is reasonable having regard to:
(a) the total of the cost bases of all the original interests; and
(b) the number, *market value and character of the original interests; and
(c) the number, market value and character of the new interests.
124-1235(3)
The first element of the *reduced cost base of the new interest (or of each of the new interests) is such amount as is reasonable having regard to:
(a) the total of the reduced cost bases of all the original interests; and
(b) the number, *market value and character of the original interests; and
(c) the number, market value and character of the new interests.
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