Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 245.180

  (1)   Subject to section   245 - 185, you may choose:

  (a)   your * CGT assets whose * cost base and * reduced cost base are subject to reduction under section   245 - 175; and

  (b)   the amount applied in reduction of the cost base and reduced cost base of each of those assets;

so long as the * total net forgiven amount remaining is applied, to the maximum extent possible, in reduction of the cost base and reduced cost base of such assets.

  (2)   If you do not make a choice for the purposes of subsection   (1), the Commissioner may make the choice on your behalf in a reasonable way.