s 295-85
In forceCost base of 30 June 1988 asset
Chapter 3Specialist liability rules
Part 3-30Superannuation
Division 295Taxation of superannuation entities
Subdivision 295-BModifications of the Income Tax Assessment Act 1997 for 30 June 1988 assets
295-85 Cost base of 30 June 1988 asset
(1)
The first element of the cost base of each 30 June 1988 asset of the entity’s is the greater of the asset’s market value (at the end of 30 June 1988) and its cost base (on that day).
(2)
The first element of the reduced cost base of each 30 June 1988 asset of the entity’s is the lesser of the asset’s market value (at the end of 30 June 1988) and its cost base (on that day).
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