Income Tax Assessment Act 1997
View history note
Hide history noteThis section applies if:
(a) there was more than one original licence; and
(b) you *acquired one or more of the original licences before 20 September 1985; and
(c) you acquired one or more of the original licences on or after that day.
124-165(2)
Each new licence is taken to be 2 separate *CGT assets that are both *statutory licences:
(a) one (which you are taken to have *acquired on or after 20 September 1985) representing the extent to which you acquired the original licences on or after that day; and
(b) another (which you are taken to have acquired before that day) representing the extent to which you acquired the original licences before that day.
124-165(3)
The first element of the *cost base and *reduced cost base of the *CGT asset mentioned in paragraph (2)(a) in relation to a new licence is worked out under the formula:
| Total post-CGT cost base | × | Market value of new licence | ||
| Market value of all new licences |
market value of all new licences
is the total of the *market values of all of the new licences.
market value of new licence
is the *market value of the new licence to which the *CGT asset mentioned in paragraph (2)(a) relates.
total post-CGT cost base
is the total of the *cost bases of all the original licences that you *acquired on or after 20 September 1985.
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