Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p17
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 17/48)
Character Range: 270487–273100

in relation to shares are reduced by any amount that was taken into account as a capital gain for the shares under former section 160ZL of the Income Tax Assessment Act 1936 for the 1997‑98 income year or an earlier income year.

Subdivision 104‑D—Bringing into existence a CGT asset

Table of sections
104‑40 Granting an option

104‑40  Granting an option
  A capital gain or capital loss is disregarded if:
 (a) you made the capital gain or capital loss for the 1997‑98 income year or an earlier income year under former Part IIIA of the Income Tax Assessment Act 1936 because you granted an option to an entity, or renewed or extended an option you had granted; and
 (b) the other entity exercises the option in the 1998‑99 income year or a later income year.

Subdivision 104‑E—Trusts

Table of sections
104‑70 Capital payment before 18 December 1986 for trust interest

104‑70  Capital payment before 18 December 1986 for trust interest
 (1) Section 104‑70 of the Income Tax Assessment Act 1997 applies for the purpose of working out the cost base of a unit or an interest you own in a trust if these conditions are satisfied:
 (a) CGT event E4 happens in relation to the unit; and
 (b) you were taken to have disposed of the unit or interest under former section 160ZM of the Income Tax Assessment Act 1936 (the former equivalent of CGT event E4) because of a payment made by the trustee before 18 December 1986; and
 (c) some or all of the payment (the non‑assessable part) was not included in your assessable income; and
 (d) some or all of the non‑assessable part (the attributable part) was attributable to a deduction under former Division 10C or 10D of Part III of the Income Tax Assessment Act 1936 (about capital works).
 (2) The cost base of the unit or interest is also reduced by the attributable part.
 (3) Subsection 104‑70(5) of the Income Tax Assessment Act 1997 also reduces the cost base and reduced cost base of a unit or interest to nil if an amount was taken into account as a capital gain for the unit or interest under former section 160ZM of the Income Tax Assessment Act 1936.

Subdivision 104‑G—Shares

Table of sections
104‑135 Capital payment for shares

104‑135  Capital payment for shares
  Subsection 104‑135(3) of the Income Tax Assessment Act 1997 also reduces the cost base and reduced cost base of a share to nil if an amount was taken into account as a capital gain for the share under former section 160ZL of the Income Tax Assessment Act 1936.

Subdivision 104‑I—Australian residency ends

Table of sections
104‑165 Choices made under subsection 104‑165(2) of the Income