Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 103.30

                   Reduce the * cost base and * reduced cost base of a * CGT asset, and any other amount that could be involved in the calculation of an entity's * capital gain or * capital loss, by the amount of any * net input tax credit of the entity in relation to that amount.

Example:    The other amount could be expenditure in the case of some CGT events (see, for example, CGT event D1).

Note:          Subsection 116-20(5) deals with the effect of net GST on supplies for the purposes of capital proceeds.

Table of Subdivisions

             Guide to Division 104

104-A   Disposals

104-B    Use and enjoyment before title passes

104-C    End of a CGT asset

104-D   Bringing into existence a CGT asset

104-E    Trusts

104-F    Leases

104-G   Shares

104-H   Special capital receipts

104-I     Australian residency ends

104-J     CGT events relating to roll-overs

104-K   Other CGT events

104-L    Consolidated groups and MEC groups

Guide to Division 104