Commonwealth of Australia Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 124.5

             (1)  First, find out if you can obtain a roll-over when your ownership of one or more CGT assets ends and you acquire one or more CGT assets: see Subdivisions 124-B to 124-R.

Note 1:       If you carry on a small business, you may also be able to obtain a roll-over under Subdivision 152-E.

Note 2:       Subdivision 124-O (about FSR transitions) also provides for roll-overs in situations where a replacement CGT asset is acquired by a new owner.

             (2)  Second, find out what the consequences are for being able to obtain a roll-over: see Subdivision 124-A.

Note:          The consequences of a scrip for scrip roll-over are set out in Subdivision 124-M. The consequences of replacing a statutory licence by a new statutory licence are set out in Subdivision 124-C. The consequences of the new owner roll-overs in Subdivision 124-O (about FSR transitions) are set out in that Subdivision. The consequences of an exchange of a membership interest in an MDO are set out in Subdivision 124-P. The consequences of an exchange of stapled ownership interests are set out in Subdivision 124-Q. The consequences of a roll-over for water entitlements are set out in Subdivision 124-R.

             (3)  Third, find out if there are any special rules relevant to your situation: see the Subdivision under which you can get the roll-over.

Table of sections

124-10      Your ownership of one CGT asset ends

124-15      Your ownership of more than one CGT asset ends