Commonwealth Consolidated Acts

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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 295.85

Cost base of 30 June 1988 asset

  (1)   The first element of the cost base of each 30   June 1988 asset of the entity's is the greater of the asset's market value (at the end of 30   June 1988) and its cost base (on that day).

  (2)   The first element of the reduced cost base of each 30   June 1988 asset of the entity's is the lesser of the asset's market value (at the end of 30   June 1988) and its cost base (on that day).


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