Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 545

                   The second step is to determine the value of the interests in the group or the respective values of the interests in each group as at the day ( the relevant day ) referred to in whichever of the following paragraphs applies:

                     (a)  if the taxpayer had the interests in the FIF at the beginning of the relevant period--the day immediately preceding the first day of the relevant period; or

                     (b)  if the interests in the FIF were acquired by the taxpayer during the relevant period--the day on which they were acquired.