INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 19A - Transfers of assets between companies under common ownership  

Subdivision D - Depreciable assets  

SECTION 160ZZRDK  

160ZZRDK   SHARES OF DIFFERENT CLASSES  
If:

(a) at the first asset disposal time, a taxpayer (the second taxpayer ) held a share of a particular class in the transferor that was acquired by the second taxpayer on or after 20 September 1985 (the post-CGT share ); and

(b) at the first asset disposal time, the second taxpayer or another taxpayer held a share of another class in the transferor; and

(c) the application of section 160ZZRDJ to the post-CGT share would be unreasonable;

then, that section does not apply to the post-CGT share and the cost base, the indexed cost base or the reduced cost base of the post-CGT share to the second taxpayer is instead reduced by such amount (if any) as is reasonable having regard to:

(d) the circumstances in which the post-CGT share was acquired by the second taxpayer; and

(e) the extent (if any) to which the market value of the post-CGT share was reduced as a result of the disposal of the first asset at the first asset disposal time.