Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 1/6)
Character Range: 2099798–2102441

4                                                            A listed investment company                                     The company

 (3) Indexation is not relevant to the *capital gain of a *life insurance company from a *CGT event happening after 30 June 2000 in respect of a *CGT asset that is a *complying superannuation asset unless the company has chosen that the *cost base include indexation.
Note: Section 114‑5 of the Income Tax (Transitional Provisions) Act 1997 provides that indexation is not relevant to the capital gain of a life insurance company or registered organisation from a CGT event after 11.45 am on 21 September 1999 and before 1 July 2000 unless the company or organisation chooses it.

114‑10  Requirement for 12 months ownership
 (1) You only index expenditure in the *cost base of a *CGT asset for a *CGT event happening in relation to the asset if you, or the entity whose cost base is being worked out, had *acquired the asset at or before 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999 and at least 12 months before the time of that *CGT event.
Note: Generally, expenditure is indexed from when it is incurred: see subsection 960‑275(2). The exception is when there is an acquisition that did not result from a CGT event. The first element in this case is indexed from when the expenditure was paid: see subsection 960‑275(3).
 (2) There are 5 exceptions:
• one for *CGT event E8: see subsection (3); and
• one for roll‑overs: see subsections (4) and (5); and
• one for deceased estates: see subsection (6); and
• one for a surviving joint tenant: see subsection (7); and
• one for *CGT event J1: see subsection (8).

CGT event E8
 (3) For *CGT event E8, the beneficiary indexes the *cost bases of the *CGT assets of the trust only if the beneficiary *acquired the *CGT asset that is the interest in the trust capital at least 12 months before *disposing of it.
  It does not matter (for indexation from the beneficiary's point of view) how long the trustee owned any of the assets of the trust.

Same asset roll‑overs
 (4) The 12 month rule is satisfied for both the entity that owned a *CGT asset before a *same‑asset roll‑over and the entity that owned it after the roll‑over if the sum of their periods of ownership of the asset (and the sum of the periods of ownership of the asset of other entities involved in an unbroken series of roll‑overs) is at least 12 months.

Replacement asset roll‑overs
 (5) The 12 month rule is satisfied for an entity obtaining a *replacement‑asset roll‑over for a *CGT event happening in relation to a *CGT asset if the period of the