Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 124.990

Partial roll - over

  (1)   The entity can obtain only a partial roll - over if its * capital proceeds for its original interest include something (the ineligible proceeds ) other than its replacement interest. There is no roll - over for that part (the ineligible part ) of its original interest for which it received ineligible proceeds.

  (2)   The * cost base of the ineligible part   is that part of the cost base of the original interest as is reasonably attributable to it.


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