Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:5_10
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 5 cl 10
Character Range: 327341–328334

10  Section 124‑800
Repeal the section, substitute:

124‑800  Interest received for pre‑CGT interest

 (1) If, in consequence of the *arrangement, you exchange an interest that you *acquired before 20 September 1985 for an interest in the replacement entity, the first element of the *cost base and *reduced cost base of the interest in the replacement entity is its market value just after you acquired it.

 (2) The *cost base and *reduced cost base of the interest in the replacement entity is reduced if all or part of a *capital gain from *CGT event K6 happening is disregarded because of subsection 104‑230(10). The amount of the reduction is the amount of the *capital gain you disregard under that subsection.

Note 1: The full list of CGT events is in section 104‑5.

Note 2: Subsection 104‑230(10) provides that a capital gain from CGT event K6 is disregarded to the extent that you could have chosen a roll‑over under this Subdivision if your original interest had been post‑CGT.