Commonwealth of Australia Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 122.75

             (1)  There are these consequences for the company in a creation case if you choose to obtain a roll-over.

             (2)  The first element of the created asset's * cost base (in the hands of the company) is the applicable amount from the table in subsection 122-65(2).

Example:    To continue the example in section 122-65, the cost base of the licence in Tiffin Pty Ltd's hands is $1,000.

             (3)  The first element of the created asset's * reduced cost base (in the hands of the company) is worked out similarly.

Guide to Subdivision 122-B