Commonwealth Consolidated Acts

WOOL SERVICES PRIVATISATION ACT 2000 - SECT 29

    For the purposes of the 1997 Tax Act, if any of the following results in the acquisition of a CGT asset, then the first element of the cost base of the asset is taken to be nil:

  (a)   the issue of shares to a person under section   21;

  (b)   the issue of shares to a person in accordance with HoldCo's constitution, where the issue is certified under section   36;

  (c)   a certified demerger matter.

Note:   Section   110 - 25 of the 1997 Tax Act defines the elements of the cost base.