Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 124.1235

  (1)   If you acquire the new interest in exchange for:

  (a)   one original interest that you started to * hold on or after 20   September 1985 and before 1   July 2001; or

  (b)   2 or more original interests, each of which you started to hold on or after 20   September 1985 and before 1   July 2001;

you are taken to have started to hold the new interest (or all of the new interests) on or after 20   September 1985 and before 1   July 2001.

  (2)   The first element of the * cost base of the new interest (or of each of the new interests) is such amount as is reasonable having regard to:

  (a)   the total of the cost bases of all the original interests; and

  (b)   the number, * market value and character of the original interests; and

  (c)   the number, market value and character of the new interests.

  (3)   The first element of the * reduced cost base of the new interest (or of each of the new interests) is such amount as is reasonable having regard to:

  (a)   the total of the reduced cost bases of all the original interests; and

  (b)   the number, * market value and character of the original interests; and

  (c)   the number, market value and character of the new interests.