Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 124.80

Other requirements if you receive an asset

             (1)  If you receive another * CGT asset for the event happening, you can choose to obtain a roll-over only if these other requirements are satisfied.

Note:          The roll-over consequences are set out in section 124-90.

             (2)  The other asset cannot become an item of your * trading stock just after you * acquire it, nor can it be a * depreciating asset whose decline in value is worked out under Division 40 or deductions for which are calculated under Division 328 nor can it be a * registered emissions unit.

             (3)  The * market value of the other asset (when you * acquire it) must be more than the * cost base of the original asset just before the event happens.

The consequences of a roll-over being available



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