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Wool Services Privatisation Act 2000
29CGT cost base for share acquisitions
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#### 29 CGT cost base for share acquisitions
For the purposes of the 1997 Tax Act, if any of the following results in the acquisition of a CGT asset, then the first element of the cost base of the asset is taken to be nil:
(a) the issue of shares to a person under section 21;
(b) the issue of shares to a person in accordance with HoldCo’s constitution, where the issue is certified under section 36;
(c) a certified demerger matter.
> Note: Section 110‑25 of the 1997 Tax Act defines the elements of the cost base.