Income Tax Assessment Act 1997
View history note
Hide history noteThis section applies to a *CGT asset that is *taxable Australian property under item 3 of the table in section 855-15 because you have used it at any time in carrying on a *business through a permanent establishment (as mentioned in that item) in Australia.
855-35(2)
The *capital gain or *capital loss you make from a *CGT event in relation to the asset is reduced if you used it in this way for only part of the period from when you *acquired it to when the CGT event happened.
855-35(3)
The gain or loss is reduced by this fraction:
| Number of days the asset was not used
in the way described in subsection (1) Number of days in that period |
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