Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:2_3:p5
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 2 cl 3 (pt 5/5)
Character Range: 86673–87133

assessable income for the income year in which that time occurs:
 (a) if the cost of the *CGT asset was nil just before that time—the cost reduction amount; or
 (b) otherwise—the excess mentioned in paragraph (1)(b).
 (3) Subsection (2) applies despite subsection 104‑107F(3).
 (4) For the purposes of section 118‑20, treat this section as being outside of this Part.
Note: Section 118‑20 deals with reducing capital gains if an amount is otherwise assessable.