Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:2_75
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 2 cl 75
Character Range: 126663–127372

75  At the end of section 110‑25
Add:

 (9) Also, for the purpose of working out the *capital gain of a *life insurance company from a *CGT event happening after 30 June 2000 in respect of a *CGT asset that is a *virtual PST asset, the cost base includes indexation only if the life insurance company chooses that the cost base includes indexation.

Note: Section 110‑25 of the Income Tax (Transitional Provisions) Act 1997 provides that, in working out the capital gain from a CGT event after 11.45 am on 21 September 1999 and before 1 July 2000 in respect of an asset of a life insurance company or registered organisation, the cost base includes indexation only if the company or organisation chooses it.