Section 411 — Income Tax Assessment Act 1936: Commencing day assets taken to have been acquired on commencing day

(1) Subject to this section, for the purposes of applying this Act in calculating the attributable income of the eligible CFC, a commencing day asset of the eligible CFC is taken to have been acquired, for the purposes of Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 (about CGT), by it on its commencing day. (3) Subsection (1) does not apply for the purposes of determining the cost base to the eligible CFC of an asset.