Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section prevents some expenditure from forming part of one or more elements of the * cost base of your interest in a * CGT asset of a partnership if you * acquired the interest at or before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997. (The expenditure mentioned in this section can include giving property: see section 103 - 5.)
(2) Expenditure does not form part of the second or third element of the cost base to the extent that you, or a partnership in which you are or were a partner, have deducted or can deduct it.
(3) Expenditure does not form part of any element of the cost base to the extent of any amount that you, or a partnership in which you are or were a partner, have received as * recoupment of the expenditure, except so far as the amount is included in your assessable income or the partnership's assessable income.
(4) Subsection (2) does not apply in relation to amounts that you have deducted or can deduct under Division 243.