Income Tax Assessment Act 1997
View history note
Hide history noteFor each of your *shares or units that:
(a) is described in paragraph 615-45(c) ; and
(b) was a *revenue asset immediately before its disposal, redemption or cancellation;
your gross proceeds for that disposal, redemption or cancellation are taken to be the amount you would have needed to have received in order to have a nil profit and nil loss for that disposal, redemption or cancellation.
615-55(2)
For the purpose of calculating any profit or loss on a future disposal, cessation of ownership, or other realisation of a *share that:
(a) you acquired as described in paragraph 615-45(d) ; and
(b) is a *revenue asset;
you are taken to have paid the following for your acquisition of that share
| Total worked out under subsection (1) for your corresponding *shares or units in the original entity | ||
| Number of your shares acquired as described in paragraph 615-45(d) that are *revenue assets |
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.
