Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 126.55

When there is a roll-over

Capital gain or no loss

             (1)  There is a roll-over if:

                     (a)  either:

                              (i)  the trigger event would have resulted in the originating company making a * capital gain, or making no * capital loss and not being entitled to a deduction; or

                             (ii)  the originating company * acquired the roll-over asset before 20 September 1985; and

                     (b)  the originating company and recipient company both choose to obtain it.

Note:          Section 103- 25 sets out when the choice must be made.



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