Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:2_2:p3
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 3/14)
Character Range: 723665–726340

trust interest

 (1) This section applies for the purpose of working out the cost base of a unit or an interest you own in a trust if these conditions are satisfied:

 (a) CGT event E4 happens in relation to the unit; and

 (b) you were taken to have disposed of the unit or interest under section 160ZM of the Income Tax Assessment Act 1936 (the former equivalent of CGT event E4) because of a payment made by the trustee before 18 December 1986; and

 (c) some or all of the payment (the non‑assessable part) was not included in your assessable income; and

 (d) some or all of the non‑assessable part (the attributable part) was attributable to a deduction under Division 10C or 10D of Part III of the Income Tax Assessment Act 1936 (about capital works).

 (2) The cost base of the unit or interest is also reduced by the attributable part.

104‑72  Application to Divisions 10C and 10D of Part III of the Income Tax Assessment Act 1936

  Paragraph 104‑70(7)(a) applies to deductions under Divisions 10C and 10D of Part III of the Income Tax Assessment Act 1936 (about capital works) in the same way that it applies to deductions under Division 43 of the Income Tax Assessment Act 1997.

Subdivision 104‑J—Reversal of roll‑overs

104‑175  Company ceasing to be member of wholly‑owned group after roll‑over

 (1) This section applies if there was a roll‑over under section 160ZZO of the Income Tax Assessment Act 1936 for a disposal of an asset from one company to another company (the transferee).

 (2) If CGT event J1 would happen in relation to the roll‑over in a situation involving something happening in relation to the transferee, that event does not happen if there would have been no deemed disposal and re‑acquisition of the asset by the transferee in that situation under whichever of these provisions would have been relevant for that situation if it had happened before the start of the 1998‑99 income year:

 (a) section 160ZZOA of that Act; or

 (b) paragraphs 160ZZO(1)(g) and (h) of that Act.

 (3) In working out whether subsection (2) affects you, take into account provisions of other Acts that amended Part IIIA of the Income Tax Assessment Act 1936 and that affect the situation referred to in that subsection.

Subdivision 104‑K—Other CGT events

104‑210  Bankrupt pays amount in relation to debt

  Subsection 104‑210(1) of the Income Tax Assessment Act 1997 applies to a net capital loss mentioned in subsection 160ZC(4A) of the Income Tax Assessment Act 1936 in the same way as it applies to a net capital loss referred to in subsection 102‑5(2) of the Income Tax Assessment Act 1997.

Note: This provision covers the case