29CGT cost base for share acquisitions

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.