Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p32
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 32/48)
Character Range: 307198–309819

where you paid or gave something in relation to the conversion. Instead, the first element of the cost base and reduced cost base of the shares is the sum of:
 (a) the market value of the note at the time of the conversion; and
 (b) what you paid or gave in relation to the conversion.
 (3) Subsection 130‑60(2) of the Income Tax Assessment Act 1997 does not apply to the acquisition of shares by the conversion of a convertible note that you acquired before 20 September 1985 if you did not pay or give anything in relation to the conversion. Instead, you are taken to have acquired them when you acquired the convertible note.

Division 134—Options

Table of sections
134‑1 Exercise of options

134‑1  Exercise of options
 (1) The modification in item 1 in the table in subsection 134‑1(1) of the Income Tax Assessment Act 1997 does not apply to an option (that was granted before 20 September 1985 and exercised after that day) that binds the grantor to create (including grant or issue) or dispose of a CGT asset. Instead, the first element of the cost base and reduced cost base of the CGT asset acquired by the grantee by exercising the option includes the market value of the option when it was exercised.
 (2) This section does not apply to an option if:
 (a) it has been renewed or extended; and
 (b) the last renewal or extension occurred on or after 20 September 1985.

Division 136—Foreign residents

Table of Subdivisions
136‑A Making a capital gain or loss

Subdivision 136‑A—Making a capital gain or loss

Table of sections
136‑25 When an asset is taxable Australian property

136‑25  When an asset is taxable Australian property
  A CGT asset a company owns is taxable Australian property if:
 (a) the company acquired the asset after 28 January 1988 and on or before 25 May 1988; and
 (b) it acquired the asset as a result of a disposal (for the purposes of former Part IIIA of the Income Tax Assessment Act 1936) for which there was a roll‑over under former section 160ZZN or 160ZZO of that Act; and
 (c) that disposal was by:
 (i) an entity that was not a trustee, and not a resident of Australia for the purposes of that Act; or
 (ii) an entity that was a trustee of a trust that was not a resident trust estate, or a resident unit trust, for the purposes of that Act.

Division 137—Granny flat arrangements

Table of Subdivisions
137‑A—Granny flat arrangements

Subdivision 137‑A—Granny flat arrangements

Table of sections

Operative provisions
137‑10 Applicable CGT events

Operative provisions

137‑10  Applicable CGT events
  Division 137 of the Income Tax Assessment Act 1997 applies in relation