Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:2_3:p2
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 2 cl 3 (pt 2/5)
Character Range: 79621–82191

of the income year—just before the time of that CGT event.

104‑107C  AMIT cost base net amount
  The *CGT asset's AMIT cost base net amount for the income year is:
 (a) if the CGT asset's *AMIT cost base reduction amount for the income year exceeds the CGT asset's *AMIT cost base increase amount for the income year—the amount of the excess; or
 (b) if the CGT asset's AMIT cost base reduction amount for the income year falls short of the CGT asset's AMIT cost base increase amount for the income year—the amount of the shortfall.

104‑107D  AMIT cost base reduction amount
 (1) The *CGT asset's AMIT cost base reduction amount for the income year is the total of:
 (a) money, and the *market value of any property, if:
 (i) you start to have a right to receive the money or property from the trustee of the *AMIT in the income year; and
 (ii) that right is indefeasible (disregarding section 276‑55) or is reasonably likely not to be defeated; and
 (b) all amounts of *tax offset that you have for the income year in respect of the AMIT because of the operation of section 276‑80;
to the extent that the total is reasonably attributable to the CGT asset.
 (2) If:
 (a) *CGT event A1, C2, E1, E2, E6 or E7 happens to the *CGT asset before the end of the income year; and
 (b) as a result, the time of the reduction or increase mentioned in subsection 104‑107B(4) is just before the time of that CGT event;
do not include in the CGT asset's AMIT cost base reduction amount for the income year any *capital proceeds from that CGT event.

104‑107E  AMIT cost base increase amount
 (1) The *CGT asset's AMIT cost base increase amount for the income year is the total of the 2 amounts set out in the following subsections.

First amount—total of amounts not related to capital gains
 (2) The first amount is the total of all of the following amounts included in your assessable income or *non‑assessable non‑exempt income for the income year in respect of the *AMIT, to the extent that they are reasonably attributable to the *CGT asset:
 (a) amounts so included because of the operation of section 276‑80;
 (b) amounts so included otherwise than because of the operation of section 276‑80 (as reduced in accordance with section 276‑100).
 (3) For the purposes of subsection (2), disregard the *AMIT's *net capital gain (if any) for the income year.

Second amount—total of amounts related to capital gains
 (4) The second amount is the total of each *determined member component of a character relating to *capital gains that:
 (a) you have for the income year in respect