Income Tax Assessment Act 1997
View history note
Hide history noteCost base adjustment
315-80(1)
The first element of the *cost base and *reduced cost base of a *CGT asset is its *market value on the day it is issued if:
(a) the asset is covered by section 315-85 (a demutualisation asset ); and
(b) the asset is issued to an entity (a participating policy holder ) covered by section 315-90 .
Note:
There is an exception to this rule in Subdivision 315-D where the asset is a share or right in a holding company with other assets.
Acquisition rule
315-80(2)
The participating policy holder is taken to have *acquired the demutualisation asset at the time it is issued.
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