Good try Alan , but quite deceptive for your argument of the opps exercise .
The cost base is the current price + 20c only for the gain or loss in the share price from the CGT Acquisition date price that was triggered today .
The cost of purchasing the options +20c is rolled over and NO cgt is due now as there has been no disposal as yet .
The only tax effect is in respect to any future gain/loss in the share price from todays date to the sale date .
Recommencing a a new acquisition date for the purpose you suggested is just wrong
If the options were held and exercised later the 12 month rule would still apply for the current gain or loss .
from your copy
* the cost base of the rights or options at the time you exercised them plus
* the amount you paid to exercise the rights or options (except to the extent that the amount is represented in the cost base of the rights or options at the time of exercise) plus
* if the rights or options were exercised on or after 1 July 2001 and, as a result, an amount was included in your assessable income - that amount.
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