Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_10:p1
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 10 (pt 1/7)
Character Range: 164282–167707

10                       A CGT asset is owned by a tax exempt entity and it becomes taxable                                        at the transition time                    section 57‑25 of Schedule 2D

Division 110—Cost base and reduced cost base

Table of Subdivisions

 Guide to Division 110

110‑A Cost base

110‑B Reduced cost base

Guide to Division 110

110‑1  What this Division is about

      This Division tells you how to work out the cost base and reduced cost base of a CGT asset. You need to know these to work out if you make a capital gain or loss from most CGT events.

Table of sections

110‑5 Modifications to general rules
110‑10 Rules about cost base not relevant for some CGT events

110‑5  Modifications to general rules

  After you have read the general rules, you need to know if there are any modifications to them. Division 112 lists each situation that may result in a modification and tells you where you can find the detailed provisions for each situation.

110‑10  Rules about cost base not relevant for some CGT events

  This table sets out each CGT event for which you do not need to know what the cost base or reduced cost base of a CGT asset is to work out if you make a capital gain or loss. The section describing the event tells you what amount is relevant instead.

Rules about cost base not relevant for some CGT events
Event number
                                                        Description of event:                       See section:
C3                                                      End of option to acquire shares etc.        104‑30
D1                                                      Creating contractual or other rights        104‑35
D2                                                      Granting an option                          104‑40
D3                                                      Granting a right to income from mining      104‑45
E9                                                      Creating a trust over future property       104‑105
F1                                                      Granting a lease                            104‑110
F3                                                      Lessor pays lessee to get lease changed     104‑120
F5                                                      Lessor receives payment for changing lease  104‑130
H1                                                      Forfeiture of deposit                       104‑150
H2                                                      Receipt for event relating to a CGT asset   104‑155
K2                                                      Bankrupt pays amount in relation to debt    104‑210

Subdivision 110‑A—Cost base

Table of sections

110‑25 General rules about cost base
110‑30 Cost base of partnership assets
110‑35 Incidental costs

110‑25  General rules about cost base

 (1) The cost base of a *CGT asset consists of 5 elements. It can also include indexation of those elements (except the third one).

To find out how to index expenditure: see Division 114.

Note: You need to keep records of each element: see Division 121.

5 elements of the cost base

 (2) The first element is the total of:

 (a) the money you paid, or are required to pay, in respect of *acquiring it; and

 (b) the market value of any other property you gave, or are required to give, in respect of acquiring it (worked out as at