INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteFor the purposes of this Part but subject to subsection (2), if the consideration in respect of a disposal of a non-listed personal-use asset would, but for this section, be less than $10,000, the consideration in respect of that disposal of that asset shall be deemed to be $10,000.
Where there is a disposal of a non-listed personal-use asset (in this subsection referred to as the ``relevant asset'' ) that formed part of another non-listed personal-use asset (in this subsection referred to as the ``original asset'' ), subsection (1) does not apply in relation to the disposal but the consideration in respect of the disposal of the relevant asset shall be deemed to be whichever is the greater of the following amounts:
(a) the amount that would, but for this section, be the consideration in respect of the disposal;
(b) the amount that bears to $10,000 the same proportion as the amount that would, but for section 160ZG , be the indexed cost base to the taxpayer of the relevant asset bears to the amount that would, but for that section, have been the indexed cost base to the taxpayer of the original asset if the whole of the original asset had been disposed of at the time of the disposal of the relevant asset.
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