Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 9/40)
Character Range: 1847027–1849490

base and reduced cost base of the asset by that AMIT cost base net amount.
Note: If that AMIT cost base net amount exceeds the cost base of the asset, CGT event E10 will happen (see section 104‑107A).
 (3) If the *CGT asset's *AMIT cost base net amount for the income year is the shortfall mentioned in paragraph 104‑107C(b), increase the *cost base and *reduced cost base of the asset by that AMIT cost base net amount.
 (4) The time of the reduction or increase is:
 (a) unless paragraph (b) applies—just before the end of the income year; or
 (b) if a *CGT event happens to the *CGT asset at a time when you hold it before the end 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