Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:2_86
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 2 cl 86
Character Range: 195435–197270

86  After Division 112
Insert:

Division 114—Indexation of cost base

114‑5  When indexation relevant

  Indexation is not relevant to the *capital gain of a *life insurance company or a *registered organisation from a *CGT event happening after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999 and before 1 July 2000 unless the company or organisation has chosen that the *cost base include indexation for the purposes of section 110‑25 of the Income Tax Assessment Act 1997.

Division 115—Discount capital gains and trusts' net capital gains

Table of Subdivisions

115‑A Discount capital gains

Subdivision 115‑A—Discount capital gains

115‑10  Who can make a discount capital gain?

 (1) A *capital gain may also be a *discount capital gain if it is made by:
 (a) a *life insurance company (other than a *registered organisation), in relation to a non‑exempt modified discount capital gain from a notional CGT event in respect of a *CGT asset where the event occurred during the period starting immediately after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999 and ending immediately before 1 July 2000; or
 (b) a *registered organisation, in relation to a modified discount capital gain from a notional CGT event in respect of a CGT asset where the event occurred during that period.

 (2) In paragraph (1)(a), non‑exempt modified discount capital gain and notional CGT event have the meanings that were given by Division 8 of Part III of the Income Tax Assessment Act 1936 as in force when the relevant *CGT event occurred.

 (3) In paragraph (1)(b), modified discount capital gain and notional CGT event have the meanings that were given by Division 8A of Part III of the Income Tax Assessment Act 1936 as in force when the relevant *CGT event occurred.