Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p28
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 28/64)
Character Range: 468536–471169

of the entity.
 (2) The first element of the cost base of the shares, units or options is the sum of:
 (a) the amount paid to exercise the rights or options; and
 (b) the greater of the market value of the rights or options (at the end of 30 June 1988) and the cost base of the rights or options (on that day).
 (3) The first element of the reduced cost base of the shares, units or options is the sum of:
 (a) the amount paid to exercise the rights or options; and
 (b) the lesser of the market value of the rights or options (at the end of 30 June 1988) and the cost base of the rights or options (on that day).
 (4) The payment referred to in subsection (2) or (3) can include giving property. To the extent that the payment does, use the market value of the property in working out the amount of the payment.
 (5) For indexation purposes, the amount referred to in paragraph (2)(b) is taken to have been incurred on 30 June 1988.

Subdivision 295‑C—Notices relating to contributions

Table of sections
295‑190 Deductions for personal contributions

295‑190  Deductions for personal contributions
 (1) A notice given under subsection 82AAT(1A) or (1CB) of the Income Tax Assessment Act 1936 in relation to the 2006‑07 income year or an earlier year has effect, after 1 July 2007, as if it were a notice under section 290‑170 of the Income Tax Assessment Act 1997.
 (2) A notice given under subsection 82AAT(1C) or (1CD) of the Income Tax Assessment Act 1936 in relation to the 2006‑07 income year or an earlier year has effect, after 1 July 2007, as if it were a notice under section 290‑180 of the Income Tax Assessment Act 1997.

Subdivision 295‑F—Exempt income

Table of sections
295‑390 Fixed interest complying ADFs—exemption of income attributable to certain 25 May 1988 deposits

295‑390  Fixed interest complying ADFs—exemption of income attributable to certain 25 May 1988 deposits
 (1) A proportion of the ordinary income and statutory income of a continuously complying fixed interest ADF of an income year that would otherwise be assessable income is exempt from income tax under this section. The proportion is worked out under subsection (3).
 (2) Subsection (1) does not apply to:
 (a) non‑arm's length income; or
 (b) amounts included in assessable income under Subdivision 295‑C of the Income Tax Assessment Act 1997.
 (3) The proportion is:

where:
Aggregate current balance is the total amount deposited with the fund (together with accumulated earnings), as at the reckoning time in relation to the income year.
Aggregate of current 25 May balances is the aggregate of the current 25 May balances of eligible