s 112-20
In forceMarket value substitution rule
Chapter 3Specialist liability rules
Part 3-1Capital gains and losses: general topics
Division 112Modifications to cost base and reduced cost base
Subdivision 112-AGeneral rules
112-20 Market value substitution rule
In working out the cost base and reduced cost base of a CGT asset:
(a)
that you acquired before 16 August 1989; and
(b)
to which paragraph 112‑20(2)(b) or (c), or item 5 or 6 in the table in subsection 112‑20(3), of the Income Tax Assessment Act 1997 would apply (apart from this section);
disregard subsections 112‑20(2) and (3) of that Act.
Note:
This section preserves the pre‑16 August 1989 position for, among other things, shares or units issued or allotted to you by allowing the market value substitution rule to apply.
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