(1) You cannot obtain the roll-over if, just before you stop owning your original interest, you are a foreign resident unless, just after you * acquire your replacement interest, the replacement interest is * taxable Australian property.
(2) You cannot obtain the roll-over if:
(a) any * capital gain you might make from your replacement interest would be disregarded (except because of a roll-over); or
(b) you and the acquiring entity are members of the same * wholly-owned group just before you stop owning your original interest and the acquiring entity is a foreign resident.
Example: An example of a capital gain or loss being disregarded as mentioned in paragraph (2)(a) is because the asset is trading stock.
Note: A roll-over may be available under Subdivision 126-B in the circumstances mentioned in paragraph (2)(b).
(3) You cannot obtain the roll-over for the * CGT event happening in relation to the exchange of your original interest if you can choose a roll-over under Division 122 or 615 for that event.
Note: Division 122 deals with the disposal of assets to a wholly-owned company, and Division 615 deals with business restructures.
(4) You cannot obtain the roll-over for the * CGT event happening in relation to the exchange of your qualifying interest if:
(a) the replacement entity makes a choice to that effect under this subsection; and
(b) that entity or the original entity notifies you in writing of the choice before the exchange.