Peter Dutton (Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer) Share this | Hansard source

I move:

That the amendments be agreed to.

The amendments provide for a cost base of market value for certain assets that would not have been subject to Australia’s CGT regime prior to this measure being introduced. This will ensure that all such assets held by foreign residents on the date of announcement of the measure, 10 May 2005, and which subsequently become subject to Australia’s CGT regime receive a cost base of market value as at that date. I can inform the House that the amendment has no financial impact.

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