Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p22
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 22/48)
Character Range: 282569–285316

CGT event E9 (about an entity creating a trust over future property) in the table in subsection 109‑5(2) of the Income Tax Assessment Act 1997 does not apply to you as trustee if the agreement to create the trust was made before 12 noon, by legal time in the Australian Capital Territory, on 12 January 1994.

Division 110—Cost base and reduced cost base

Table of Subdivisions
110‑A Cost base

Subdivision 110‑A—Cost base

Table of sections
110‑25 Cost base of CGT asset of life insurance company or registered organisation
110‑35 Incidental costs

110‑25  Cost base of CGT asset of life insurance company or registered organisation
  For the purpose of working out the capital gain of a life insurance company or a registered organisation from a CGT event happening after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999 and before 1 July 2000, the cost base includes indexation only if the company or organisation chooses that the cost base includes indexation.

110‑35  Incidental costs
  Despite subsection 110‑35(2) of the Income Tax Assessment Act 1997, expenditure for professional advice about taxation incurred before 1 July 1989 does not form part of the cost base of a CGT asset.

Division 112—Modifications to cost base and reduced cost base

Table of Subdivisions
112‑A General rules
112‑B Special rules

Subdivision 112‑A—General rules

Table of sections
112‑20 Market value substitution rule

112‑20  Market value substitution rule
  In working out the cost base and reduced cost base of a CGT asset:
 (a) that you acquired before 16 August 1989; and
 (b) to which paragraph 112‑20(2)(b) or (c), or item 5 or 6 in the table in subsection 112‑20(3), of the Income Tax Assessment Act 1997 would apply (apart from this section);
disregard subsections 112‑20(2) and (3) of that Act.
Note: This section preserves the pre‑16 August 1989 position for, among other things, shares or units issued or allotted to you by allowing the market value substitution rule to apply.

Subdivision 112‑B—Special rules

Table of sections
112‑100 Effect of terminated gold mining exemptions

112‑100  Effect of terminated gold mining exemptions
 (1) This section affects how to work out a capital gain or capital loss you make from a CGT event that happens to a CGT asset after 31 December 1990 if:
 (a) before 1 January 1991, you used the asset (other than on a prior holding of it) solely for the purpose of producing exempt income, and principally for the purpose of producing exempt income to which former paragraph 23(o) or former subsection 23C(1) of the Income Tax Assessment Act 1936 (about income from producing or selling gold) applied; and
 (b) you owned the asset continuously from the end of 31 December 1990