You can choose to obtain a roll-over if:
(a) you own units (the original units ) of a certain class in a unit trust; and
(b) the trustee redeems or cancels all units of that class; and
(c) the trustee issues you with new units (and you receive nothing else) in substitution for the original units; and
(d) the * market value of the new units just after they were issued is at least equal to the market value of the original units just before they were redeemed or cancelled; and
(e) one of these requirements is satisfied:
(i) you are an Australian resident at the time of the redemption or cancellation; or
(ii) if you are a foreign resident at that time--the original units were * taxable Australian property just before that time and the new units are taxable Australian property when they are issued.
Note: The roll-over consequences are set out in Subdivision 124-A. The original assets are the original units. The new assets are the new units.
Table of sections
124-295 Exchange of rights or option to acquire shares in a company
124-300 Exchange of rights or option to acquire units in a unit trust