Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 112.97

    This table sets out other cost base modifications outside this Part and Part   3 - 3.

    Provisions of the Income Tax Assessment Act 1936 are in bold .

 

Modifications outside this Part and Part   3 - 3
Item	In this situation	Element affected:	See:
1A	You receive, under a * farm - in farm - out arrangement, an * exploration benefit or an entitlement to an exploration benefit	First element of cost base and reduced cost base	Section   40 - 1120
1	You stop holding an item as trading stock	First element of cost base and reduced cost base	Paragraph   70 - 110(1)(b)
2	CGT event happens to Cocos (Keeling) Islands asset	First element of cost base and reduced cost base	subsection   102 - 25(1) of the Income Tax (Transitional Provisions) Act 1997
2A	Lender acquires a replacement security	First element of cost base and reduced cost base	subsection   26BC(6B)
3	CGT event happens by the borrower disposing of the borrowed security to a third party	First element of cost base and reduced cost base	paragraph   26BC(9)(a)
4	CGT event happens to replacement security and compensatory payment was incurred by the borrower	Second element of cost base and reduced cost base	subsection   26BC(9A)
5	CGT event happens to CGT asset in connection with the demutualisation of an insurance company except a friendly society health or life insurer	First element of cost base and reduced cost base	section   121AS
5A	CGT event happens to CGT asset in connection with the demutualisation of a mutual entity other than an insurance company, health insurer and friendly society health or life insurer	First element of cost base and reduced cost base	Division   326 in Schedule   2H
6	CGT event happens to assets of NSW State Bank	First element of cost base and reduced cost base	section   121EN
7	Trust ceases to be a resident trust for CGT purposes and there is an attributable taxpayer	The total cost base and reduced cost base	section   102AAZBA
8	You own shares in a company that stops being a PDF	First element of cost base and reduced cost base	section   124ZR
10	CGT event happens to CGT asset used in gold mining	First element of cost base and reduced cost base	section   112 - 100 of the Income Tax (Transitional Provisions) Act 1997
12	Shares in a holding company are cancelled	The total cost base and reduced cost base	section   159GZZZH
12B	Entity has interest in loss company immediately before alteration time	The total reduced cost base	sections   165 - 115ZA and 165 - 115ZB
13	CGT event happens to 30   June 1988 asset of a complying superannuation entity	First element of cost base and reduced cost base	section   295 - 85 of the Income Tax (Transitional Provisions) Act 1997
14	CGT event happens to CGT asset of a complying superannuation entity	First element of cost base and reduced cost base	section   295 - 100 of the Income Tax (Transitional Provisions) Act 1997
15	A CGT asset of a CFC is taken into account in calculating its attributable income	First element of cost base and reduced cost base	section   412
16	A CGT asset of a CFC is taken into account in calculating its attributable income	First element of cost base and reduced cost base	subsection   413(2)
17	A CGT asset of a CFC is taken into account in calculating its attributable income	First element of cost base and reduced cost base	subsection   413(3)
18	A CGT asset of a CFC is taken into account in calculating its attributable income	First element of cost base and reduced cost base	section   414
18A	You cease to hold a registered emissions unit as the result of an outgoing international transfer of a Kyoto unit	First element of cost base and reduced cost base	Section   420 - 35
19	A commercial debt is forgiven	The total cost base and reduced cost base of certain CGT assets of the debtor	sections   245 - 175 to 245 - 190
20	A tax exempt entity becomes taxable	First element of cost base and reduced cost base	section   57 - 25 in Schedule   2D
20A	An entity becomes or ceases to be a foreign hybrid	The total cost base and reduced cost base	Sections   830 - 80 and 830 - 85
21	A CGT asset is transferred to or from a life insurance company's complying superannuation asset pool	First element of cost base and reduced cost base	subsection   320 - 200(2)
22	A CGT asset is transferred to or from the segregated exempt assets of a life insurance company	First element of cost base and reduced cost base	subsection   320 - 255(2)
22A	A CGT event happens in relation to forestry interest in a forestry managed investment scheme for a subsequent participant	The total cost base and reduced cost base	Subsection   394 - 30(9)
22B	You start or cease to have a * Division   230 financial arrangement as consideration for the acquisition of a thing	All elements of cost base and reduced cost base	section   230 - 505
23	The arrangement period for the tax preferred use of an asset ends	The total cost base and reduced cost base	subsection   250 - 285(3)
24	An entity becomes a subsidiary member of a consolidated group	The total cost base and reduced cost base for the head company of the subsidiary's assets	Section   701 - 10
24A	An entity ceases to be a subsidiary member of a consolidated group	The total cost base and reduced cost base for the head company of membership interests in the subsidiary	Section   701 - 15
24B	An entity ceases to be a subsidiary member of a consolidated group	The total cost base and reduced cost base for the head company of liabilities owed by the subsidiary	Section   701 - 20
24C	An entity ceases to be a subsidiary member of a consolidated group and an asset becomes an asset of the entity because the single entity rule ceases to apply	The total cost base and reduced cost base for the entity of a liability owed to the entity	Section   701 - 45
24D	2 or more entities cease to be subsidiary members of a consolidated group	The total cost base and reduced cost base of the membership interests that one subsidiary member holds in another	Section   701 - 50
24E	Determining an asset's tax cost setting amount	The total cost base and reduced cost base of the asset	Section   701 - 55
24F	Eligible tier - 1 company ceases to be a subsidiary member of a MEC group or a CGT event happens to a pooled interest in the company	The total cost base and reduced cost base	Section   719 - 565
25	You make a forex realisation gain as a result of forex realisation event 4, and: (a) you incurred the obligation to pay foreign currency: (i) in return for the acquisition of a CGT asset; or (ii) as the second, third, fourth or fifth element of the cost base of a CGT asset; and (b) the foreign currency became due for payment within 12 months after the time when: (i) in the case of the acquisition of a CGT asset--you acquired the CGT asset; or (ii) in the case of the second, third, fourth or fifth element of the cost base of a CGT asset--you incurred the relevant expenditure	total cost base and reduced cost base	section   775 - 70
26	You make a forex realisation loss as a result of forex realisation event 4, and: (a) you incurred the obligation to pay foreign currency: (i) in return for the acquisition of a CGT asset; or (ii) as the second, third, fourth or fifth element of the cost base of a CGT asset; and (b) the foreign currency became due for payment within 12 months after the time when: (i) in the case of the acquisition of a CGT asset--you acquired the CGT asset; or (ii) in the case of the second, third, fourth or fifth element of the cost base of a CGT asset--you incurred the relevant expenditure	total cost base and reduced cost base	section   775 - 75
27	You acquire foreign currency as a result of forex realisation event 2	first element of cost base and reduced cost base	section   775 - 125
28	On 10   May 2005, a foreign resident holds certain membership interests	first element of * cost base and * reduced cost base	subsection   855 - 25(3)
29	You are issued with an asset under a demutualisation of a health insurer except a friendly society health or life insurer	First element of cost base and reduced cost base	sections   315 - 80, 315 - 210 and 315 - 260
30	You are transferred an asset by a lost policy holders trust under a demutualisation of a health insurer except a friendly society health or life insurer	First element of cost base and reduced cost base	sections   315 - 145, 315 - 210 and 315 - 260
30A	A CGT event occurs under a demutualisation of a friendly society health or life insurer and the capital proceeds from the event include money	All elements of cost base	section   316 - 60
30B	You are issued with an asset under a demutualisation of a friendly society health or life insurer	First element of cost base and reduced cost base	section   316 - 105
30C	A CGT event happens to an interest in a lost policy holders trust and the capital proceeds from the event include money	All elements of cost base	section   316 - 165
30D	You are transferred a share, or right to acquire shares, by a lost policy holders trust under a demutualisation of a friendly society health or life insurer	The total cost base and reduced cost base	section   316 - 170
31	An entitlement arises under Division   2AA of Part   II of the Banking Act 1959 in connection with an account - holder's account with an ADI	The total cost base, and reduced cost base, of the entitlement and of the remainder (if any) of the right to be paid by the ADI in connection with the account	Section   253 - 15
32	You acquire an * ESS interest and Subdivision   83A - B or 83A - C (about employee share schemes) applies to the interest	First element of cost base and reduced cost base	sections   83A - 30 and 83A - 125
33	An entity chooses a roll - over under Subdivision   310 - D and the entity chooses section   310 - 55 to apply to assets	First element of cost base and reduced cost base	section   310 - 55
34	An entity chooses a roll - over under Subdivision   310 - D, but the entity does not choose section   310 - 55 to apply to assets	First element of cost base and reduced cost base	section   310 - 60
35	A CGT asset is held by a company that has ownership not significantly different from that of a former body that held the asset and was incorporated under another law	First element of cost base and reduced cost base	Section   620 - 25
37	The issuing of a share gives rise to an entitlement to a tax offset under Subdivision   360 - A	First element of cost base and reduced cost base	Sections   360 - 50, 360 - 55, 360 - 60 and 360 - 65

Table of sections

112 - 100   Effect of this Subdivision

112 - 105   What is a replacement - asset roll - over?

112 - 110   How is the cost base of the replacement asset modified?

112 - 115   Table of replacement - asset roll - overs