Document ID: chunk:federal_register_of_legislation:C2025C00029:section:115:p27
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 115 (pt 27/40)
Character Range: 6572640–6575361

the *market value, at the time of the *realisation event, of the part referred to in paragraph (1)(a) or the interest referred to in paragraph (1)(b), as appropriate.
market value of underlying asset means the *market value, immediately before the *realisation event, of the underlying asset.

723‑35  Multiple rights created to take advantage of the $50,000 threshold
 (1) Sections 723‑10 and 723‑15 apply differently if, having regard to all relevant circumstances, it is reasonable to conclude that the sole or main reason why a right was created as a different right from one or more other rights created in respect of the same thing was so that paragraph 723‑10(1)(f) or 723‑15(1)(d) would not be satisfied for one or more of the rights mentioned in this subsection.
 (2) Those sections:
 (a) apply to that thing, in relation to each of the rights mentioned in subsection (1) of this section, as if paragraphs 723‑10(1)(f) and 723‑15(1)(d) were omitted; and
 (b) are taken always to have so applied.

723‑40  Application to CGT asset that is also trading stock or revenue asset
  If a *CGT asset you own is also an item of your *trading stock or a *revenue asset, this Division applies to the asset once in its character as a CGT asset and again in its character as trading stock or a revenue asset.

723‑50  Effects if right created over underlying asset is also trading stock or a revenue asset
 (1) Subsection 723‑10(3) or (4) or 723‑15(3) applies differently if the right created in respect of the underlying asset is also *trading stock or a *revenue asset at the time of a *realisation event that happens to the right.
 (2) The gain that is taken into account for the purposes of that subsection is:
 (a) if the right is also *trading stock—worked out under section 977‑35 or 977‑40 (about realisation events for trading stock); or
 (b) if the right is also a *revenue asset—the greater of:
 (i) the gain worked out under section 977‑15 (about realisation events for CGT assets); and
 (ii) the gain worked out under section 977‑55 (about realisation events for revenue assets).

Subdivision 723‑B—Reducing reduced cost base of interests in entity that acquires non‑depreciating asset under roll‑over

Table of sections
723‑105 Reduced cost base of interest reduced when interest realised at a loss
723‑110 Direct and indirect roll‑over replacement for underlying asset

723‑105  Reduced cost base of interest reduced when interest realised at a loss
 (1) The *reduced cost base of a *primary equity interest, *secondary equity interest, or *indirect primary equity interest, in a company or trust is reduced just before a *realisation event that is a *CGT event happens to the interest if:
 (a) apart from this