Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 126.45

Roll-over for members of wholly-owned group

             (1)  There may be a roll-over if a * CGT event (the trigger event ) happens involving a company (the originating company ) and another company (the recipient company ) in the circumstances set out in section 126-50.

             (2)  Only these * CGT events are relevant:

                     (a)  CGT events A1 and B1 (a disposal case ); and

                     (b)  CGT events D1, D2, D3 and F1 (a creation case ).

Note:          The full list of CGT events is in section 104-5.

             (3)  However, there is no roll-over for * CGT event B1 if title in the * CGT asset does not pass to the transferee at or before the end of the agreement.

Note:          CGT event J1 can happen if the recipient company stops being a 100% subsidiary of a company in the relevant group: see section 104- 175.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback