Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p10
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 10/40)
Character Range: 1849273–1851949

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 of the *AMIT; and
 (b) is taken into account under section 276‑80.

Residence assumption
 (5) For the purposes of working out amounts under subsections (2) and (4), assume that you are an Australian resident.

104‑107F  Receipt of money etc. increasing AMIT cost base reduction amount not to be treated as income
 (1) Subsections (2) and (3) apply if:
 (a) you start to have a right to receive any money or any property from the trustee of an *AMIT in an income year; and
 (b) the right is indefeasible (disregarding section 276‑55) or is reasonably likely not to be defeated; and
 (c) the right is not remuneration or consideration for you providing finance, services, goods or property to the trustee of the AMIT or to another person; and
 (d) the right is reasonably attributable to a *CGT asset that is a *membership interest in the AMIT; and
 (e) the CGT asset is neither *trading stock nor a *Division 230 financial arrangement; and
 (f) as a result of you starting to have the right, the CGT asset's *AMIT cost base reduction amount for the income year is increased because of the operation of section 104‑107D.
 (2) These provisions do not apply to you starting to have the right:
 (a) sections 6‑5 (about *ordinary income), 8‑1 (about amounts you can deduct), 15‑15 and 25‑40 (about profit‑making undertakings or plans);
 (b) sections 25A and 52 of the Income Tax Assessment Act 1936 (about profit‑making undertakings or schemes).
 (3) Section 6‑10 (about *statutory income) does not apply to you starting to have the right except so far as that section applies in relation to section 102‑5 (about net capital gains).

104‑107G  Effect of AMIT cost base net amount on cost of AMIT membership interest or unit