What is my cost base if I get a discount on settlement?

Hi guys, looking for some taxperts to help me out here. So I'm looking at one or two OTPs, and aside from the fact that their generally difficult investments, if the purchase price of my OTP is 300k, but I am offered a 30k 'discount' or 'rebate' on settlement, what is my actual cost base for cgt purposes?

Assuming that this is disclosed in the contract

 

It is the net cost you pay

 

The cost base will include or exclude (as the case may be) any arms length or non-arms length (!! kickbacks or under the table deals) variations to the price. The lawyers settlement sheet and NOT the contract is the relevant CGT record. The contract is a ancillary document. The lawyers settlement sheet ties the proceeds borrowed, cash payments, deposit and adjustment to the contracted price.

Some contracts are not for consideration. In such cases the consideration is not the costbase. An example of this includes a in-specie transfer or a transfer for less than market. CGT Law just happens to provide a solution and often market value is imposed as an integrity provision.

Lenders may adjust for the rebate also.

 

Cost base excludes non-assessable recouped expenditure, s.110-45(3) ITAA97.