Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 620-25 Cost base and pre-CGT status of CGT asset for company 620-25(1)
This section applies to a *CGT asset if the body *disposes of it to the company because the body ceases to exist.
620-25(2)
The first element of the *CGT asset ' s *cost base for the company is equal to the asset ' s cost base for the body in connection with the *disposal.
620-25(3)
The first element of the *CGT asset ' s *reduced cost base for the company is worked out similarly.
620-25(4)
If the body *acquired the *CGT asset before 20 September 1985, the company is taken to have acquired the CGT asset before that day.
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