Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p33
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 33/48)
Character Range: 309497–312227

137—Granny flat arrangements

Table of Subdivisions
137‑A—Granny flat arrangements

Subdivision 137‑A—Granny flat arrangements

Table of sections

Operative provisions
137‑10 Applicable CGT events

Operative provisions

137‑10  Applicable CGT events
  Division 137 of the Income Tax Assessment Act 1997 applies in relation to events:
 (a) that happen on or after the commencement of that Division; and
 (b) that, apart from that Division, would be CGT events;
(whether the arrangements to which the events relate were entered into before, on or after that commencement).

Division 140—Share value shifting

Table of Subdivisions
140‑A When is there share value shifting?

Subdivision 140‑A—When is there share value shifting?

Table of sections
140‑7 Pre‑1994 share value shifts irrelevant
140‑15 Off‑market buy backs

140‑7  Pre‑1994 share value shifts irrelevant
  You make adjustments to the cost base and reduced cost base of shares under Division 140 of the Income Tax Assessment Act 1997 only in relation to schemes where the decrease in market value and increase in market value occur after 12 noon, by legal time in the Australian Capital Territory, on 12 January 1994.

140‑15  Off‑market buy backs
 (8) A share value shift is disregarded under subsection 140‑15(8) of the Income Tax Assessment Act 1997 only if:
 (a) the company concerned buys back the shares after 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 1995; and
 (b) the buy back is not done under an arrangement that is an excluded transitional arrangement within the meaning of subitem 12(2) of Schedule 1 of the Taxation Laws Amendment Act (No 1) 1996.

Division 149—When an asset stops being a pre‑CGT asset

Table of sections
149‑5 Assets that stopped being pre‑CGT assets under old law

149‑5  Assets that stopped being pre‑CGT assets under old law
 (1) This section applies to a CGT asset that:
 (a) an entity last acquired before 20 September 1985; and
 (b) the entity owned just before the start of the 1998‑99 income year; and
 (c) the entity was taken to have acquired on a day (the acquisition day) on or after 20 September 1985 under Division 20 of former Part IIIA of the Income Tax Assessment Act 1936.
 (2) In applying Parts 3‑1 and 3‑3 of the Income Tax Assessment Act 1997 to the entity:
 (a) the entity is taken to have acquired the asset on the acquisition day; and
 (b) the first element of the cost base and reduced cost base of the asset on the acquisition day is the amount for which the entity is taken to have acquired it under Division 20 of former Part IIIA of the Income Tax Assessment Act 1936.

Division 152—Small business relief

Table of sections
152‑5 Small business roll‑over chosen but no capital gain