Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 4/6)
Character Range: 2106941–2109709

of the option or the conversion of the convertible interest, and an amount is paid to the company or trust on the shares or units after the day of acquisition, that amount is indexed from the time it is paid: see subsection 960‑275(3).

114‑20  When expenditure is incurred for roll‑overs
  If there is a roll‑over for a *CGT event happening in relation to a *CGT asset and the first element of the *cost base of the asset is the whole of the cost base of:
 (a) for a *replacement‑asset roll‑over, the original asset; or
 (b) for a *same‑asset roll‑over, the CGT asset;
you index that element as if expenditure equal to the amount in that element had been incurred in the *quarter in which the CGT event happened.

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

Table of Subdivisions
 Guide to Division 115
115‑A Discount capital gains
115‑B Discount percentage
115‑C Rules about trusts with net capital gains
115‑D Tax relief for shareholders in listed investment companies

Guide to Division 115

115‑1  What this Division is about

      A discount capital gain remaining after the application of any capital losses and net capital losses from previous income years is reduced by the discount percentage when working out your net capital gain.
      A capital gain from a CGT asset is a discount capital gain only if the entity making the gain acquired the asset at least a year before the CGT event causing the gain and no choice has been made to include indexation in the cost base of the asset.
      Special rules apply to the net income of trusts with net capital gains, to ensure that the appropriate discount percentage is applied and to let beneficiaries apply their capital losses against their share of the trust's capital gains.
      Special rules apply to certain capital gains made by listed investment companies to enable shareholders receiving dividends that include these gains to obtain benefits similar to those conferred by the CGT discount.

Subdivision 115‑A—Discount capital gains

Table of sections

What is a discount capital gain?
115‑5 What is a discount capital gain?
115‑10 Who can make a discount capital gain?
115‑15 Discount capital gain must be made after 21 September 1999
115‑20 Discount capital gain must not have indexed cost base
115‑25 Discount capital gain must be on asset acquired at least 12 months before
115‑30 Special rules about time of acquisition
115‑32 Special rule about time of acquisition for certain replacement‑asset roll‑overs
115‑34 Further special rule about time of acquisition for certain replacement‑asset roll‑overs

What are not discount capital gains?
115‑40 Capital gain resulting from agreement made within a year of acquisition
115‑45 Capital gain from equity in an entity with