Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-32 - CO-OPERATIVES AND MUTUAL ENTITIES  

View history reference

 View history note

 Hide history note

History

Part 3-32 inserted by No 97 of 2008 , s 3 and Sch 1 item 11, applicable in relation to demutualisations occurring on and after 1 July 2007.

Division 316 - Demutualisation of friendly society health or life insurers  

View history reference

 View history note

 Hide history note

History

Div 316 inserted by No 88 of 2009, s 3 and Sch 3 item 1, effective 18 September 2009.

Subdivision 316-C - Cost base of shares and rights issued under the demutualisation  

View history reference

 View history note

 Hide history note

History

Subdiv 316-C inserted by No 88 of 2009, s 3 and Sch 3 item 1, effective 18 September 2009.

Guide to Subdivision 316-C

SECTION 316-105   Cost base and time of acquisition of shares and certain rights issued under demutualisation  

View history reference

First element of cost base

316-105(1)    
The first element of the *cost base and *reduced cost base of a *CGT asset is the amount worked out using the formula in subsection (2) if:

(a) the asset is a CGT asset (a demutualisation asset ) covered by section 316-110 ; and

(b) the asset is issued to an entity covered by section 316-115 .

316-105(2)    
The formula is:

Value of the * CGT asset when it was issued

×

Valuation factor worked out under section 316-65

Time of acquisition

316-105(3)    
The entity is taken to have *acquired the *CGT asset at the time it is issued.

 View history note

 Hide history note

History

S 316-105 inserted by No 88 of 2009, s 3 and Sch 3 item 1, effective 18 September 2009.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.