INCOME TAX ASSESSMENT ACT 1997 - SECT 110.10 Rules about cost base not relevant for some CGT events
INCOME TAX ASSESSMENT ACT 1997 - SECT 110.10
Rules about cost base not relevant for some CGT eventsThis table sets out each CGT event for which you do not need to know what the cost base or reduced cost base of a CGT asset is to work out if you make a capital gain or loss. The section describing the event tells you what amount is relevant instead.
Rules about cost base not relevant for some CGT events | ||
Event number |
|
|
C3 | End of option to acquire shares etc. | 104 - 30 |
D1 | Creating contractual or other rights | 104 - 35 |
D2 | Granting an option | 104 - 40 |
D3 | Granting a right to income from mining | 104 - 45 |
E9 | Creating a trust over future property | 104 - 105 |
F1 | Granting a lease | 104 - 110 |
F3 | Lessor pays lessee to get lease changed | 104 - 120 |
F5 | Lessor receives payment for changing lease | 104 - 130 |
H1 | Forfeiture of deposit | 104 - 150 |
H2 | Receipt for event relating to a CGT asset | 104 - 155 |
J5 | Failure to acquire replacement asset and to incur fourth element expenditure after a roll - over | 104 - 197 |
J6 | Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain | 104 - 198 |
K2 | Bankrupt pays amount in relation to debt | 104 - 210 |
K7 | Balancing adjustment event happens to depreciating asset | 104 - 235 |
K9 | Carried interests | 104 - 255 |
K10 | You make a forex realisation gain covered by item 1 of the table in subsection 775 - 70(1) | 104 - 260 |
K11 | You make a forex realisation loss covered by item 1 of the table in subsection 775 - 75(1) | 104 - 265 |
K12 | Foreign hybrid loss exposure adjustment | 104 - 270 |
L1 | Reduction under section 705 - 57 in tax cost setting amount of assets of entity becoming subsidiary member of consolidated group or MEC group | 104 - 500 |
L2 | Amount remaining after step 3A etc. of joining allocable cost amount is negative | 104 - 505 |
L3 | Tax cost setting amounts for retained cost base assets exceed joining allocable cost amount | 104 - 510 |
L4 | No reset cost base assets against which to apply excess of net allocable cost amount on joining | 104 - 515 |
L5 | Amount remaining after step 4 of leaving allocable cost amount is negative | 104 - 520 |
L6 | Errors in tax cost setting amounts for entity joining consolidated group or MEC group | 104 - 525 |
L8 | Reduction in tax cost setting amount for reset cost base assets on joining cannot be allocated | 104 - 535 |
110 - 25 General rules about cost base
110 - 35 Incidental costs
What does not form part of the cost base
110 - 37 Expenditure forming part of cost base or element
110 - 40 Assets acquired before 7.30 pm on 13 May 1997
110 - 43 Partnership interests acquired before 7.30 pm on 13 May 1997
110 - 45 Assets acquired after 7.30 pm on 13 May 1997
110 - 50 Partnership interests acquired after 7.30 pm on 13 May 1997
110 - 53 Exceptions to application of sections 110 - 45 and 110 - 50
110 - 54 Debt deductions disallowed by thin capitalisation rules