Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:2_3
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 2 cl 3
Character Range: 751549–752860

3  At the end of the Act
Add:

[The next Chapter is Chapter 6.]

Chapter 6—The Dictionary

Part 6‑1—Concepts and topics

[The next Division is Division 960.]

Division 960—General

Table of Subdivisions

960‑M Indexation

Subdivision 960‑M—Indexation

960‑262  Application of Subdivision 960‑M of the Income Tax Assessment Act 1997

 (1) Subdivision 960‑M of the Income Tax Assessment Act 1997 (about indexation) applies to assessments for the 1998‑99 income year and later income years (except so far as it affects the car depreciation limit).

 (2) For the car depreciation limit (see section 42‑80 of the Income Tax Assessment Act 1997), that Subdivision applies to the 1998‑99 financial year and later financial years.

960‑275  Indexation factor

 (1) This section applies to a CGT asset that:

 (a) is a share in a company that was issued or allotted to you by the company or a unit in a unit trust that was issued to you by the trustee; and

 (b) you acquired before 16 August 1989; and

 (c) you owned just before the start of the 1998‑99 income year.

 (2) In working out the cost base of the cost base of the asset, you ignore subsection 960‑275(3) and use the indexation factor in subsection 960‑275(2).

Part 2—Consequential amendment of the Income Tax Assessment Act 1997