Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p3
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 3/7)
Character Range: 2458856–2461375

1985 if you acquired all the assets of the *business before that day and none of the assets is a *precluded asset.
 (2) However, if at least one of the assets is a *precluded asset, you are taken to have *acquired a whole number of the *shares (but not all of them) before that day. The number is the greatest possible that (when expressed as a percentage of all the shares) does not exceed:
• the total of the *market values of the assets that are not *precluded assets, less any liabilities the company undertakes to discharge in respect of those assets;
expressed as a percentage of:
• the total of the market values of all the assets, less any liabilities the company undertakes to discharge in respect of those assets.
Note: There are rules for working out what are the liabilities in respect of an asset: see section 122‑37.
 (3) The first element of each other *share's *cost base and *reduced cost base is the total of the *market values of the *precluded assets (less any liabilities the company undertakes to discharge in respect of those assets) divided by the number of those other shares.
 (4) The *market value of an asset is worked out when you *disposed of it. The *cost base or *reduced cost base of an asset is worked out at the same time.

122‑60  Assets acquired before and after 20 September 1985
 (1) If you *acquired some of the assets on or after 20 September 1985, you are taken to have acquired a whole number of the *shares (but not all of them) before that day. The number is the greatest possible that (when expressed as a percentage of all the shares) does not exceed:
• the total of the *market values of the assets (except any *precluded assets) that you acquired before that day, less any liabilities the company undertakes to discharge in respect of those assets;
expressed as a percentage of:
• the total of the market values of all the assets, less any liabilities the company undertakes to discharge in respect of those assets.
 (2) The first element of each other *share's *cost base is the sum of the *market values of the *precluded assets and the cost bases of the other assets that you *acquired on or after that day (less any liabilities the company undertakes to discharge in respect of all of those assets) divided by the number of those other shares.
Note: There are special indexation rules for roll‑overs: see Division 114.
 (3) The first element of each other *share's *reduced cost base is worked out similarly.
 (4) The *market value of an asset is worked out when you