Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 2   Consolidation etc.

Part 11   Technical amendment of cost base and reduced cost base calculation

Income Tax Assessment Act 1997

63   At the end of section 110-55

Add:

Assume a CGT event for purposes of working out reduced cost base at a particular time

(10) If:

(a) it is necessary to work out the *reduced cost base at a particular time; and

(b) a *CGT event does not happen in relation to the asset at or just after that time;

assume, for the purpose only of working out the reduced cost base at the particular time, that such an event does happen in relation to the asset at or just after that time.