INCOME TAX ASSESSMENT ACT 1997 - SECT 620.25 Cost base and pre - CGT status of CGT asset for company

INCOME TAX ASSESSMENT ACT 1997 - SECT 620.25

  (1)   This section applies to a * CGT asset if the body * disposes of it to the company because the body ceases to exist.

  (2)   The first element of the * CGT asset's * cost base for the company is equal to the asset's cost base for the body in connection with the * disposal.

  (3)   The first element of the * CGT asset's * reduced cost base for the company is worked out similarly.

  (4)   If the body * acquired the * CGT asset before 20   September 1985, the company is taken to have acquired the CGT asset before that day.