Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:2_77
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 2 cl 77
Character Range: 128141–128783

77  At the end of section 114‑5
Add:

 (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 *virtual PST asset unless the company has chosen that the *cost base include indexation for the purposes of section 110‑25.

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.