Document ID: chunk:federal_register_of_legislation:C2010C00260:clause:1_1:p9
Version: federal_register_of_legislation:C2010C00260
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 9/11)
Character Range: 21431–24122

in your assessable income under that Division in relation to the original right if subsection 139BA(2) of that Act were disregarded.

discount is the amount of the discount.

768‑945  Amending assessment to take account of effect on capital gain or loss of recalculating discount

 (1) This section applies if:
 (a) an amount is included in your assessable income, or you have a net capital loss, for a particular income year; and
 (b) that amount is reduced, or increased, because of a change in the extent (if any) to which any of the following provisions of the Income Tax Assessment Act 1936 apply in relation to the amount during a subsequent income year:
 (i) section 23AF;
 (ii) section 23AG;
 (iii) subsection 139B(1A).

 (2) In paragraph (1)(b):
 (a) the reference to an amount being reduced includes a reference to the amount being reduced to a nil amount; and
 (b) the reference to an amount being increased includes a reference to the amount being increased from a nil amount.

 (3) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment to take account of the effect that the reduction or increase has on the determination of the amount of a *capital gain or *capital loss under subsection 768‑920(6) or (7).

 (4) If section 768‑920 applies to the *share or right in relation to which the *CGT event occurs because of subsection 768‑920(1), the amendment must be made before the end of the period of 4 years starting immediately after the income year during which the period of employment or service relating to the *acquisition of the share or right ends.

 (5) If section 768‑920 applies to the *share or right in relation to which the *CGT event occurs because of subsection 768‑920(2), the amendment must be made before the end of the period of 4 years starting immediately after the income year during which the period of employment or service relating to the *acquisition of the original right ends.

768‑950  Individual becoming an Australian resident

  Section 136‑40 does not apply to your becoming an Australian resident if you are a *temporary resident immediately after you become an Australian resident.

768‑955  Temporary resident who ceases to be temporary resident but remains an Australian resident

 (1) If you are a *temporary resident and you then cease to be a temporary resident (but remain, at that time, an Australian resident), there are rules relevant to each *CGT asset that:
 (a) you owned just before you ceased to be a temporary resident; and
 (b) does not have the *necessary connection with Australia; and
 (c) you *acquired on or after 20 September 1985.

 (2) The first element of the *cost base