Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 124.155

Roll - over consequences--all original licences were post - CGT

  (1)   This section applies if you * acquired the original licence (or all of the original licences) on or after 20   September 1985.

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

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

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

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

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

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

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

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


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