Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 (10 of 2016)

Schedule 1   CGT treatment of earnout rights

Part 2   Preserving small business concessions

Income Tax Assessment Act 1997

8   Before subsection 104-190(1)

Insert:

(1A) If you choose a small business roll-over under Subdivision 152-E for a *CGT event that happens in relation to a *CGT asset in an income year, the replacement asset period is the period:

(a) starting one year before the last CGT event in the income year for which you obtain the roll-over; and

(b) ending at the later of:

(i) 2 years after that last CGT event; and

(ii) if the first-mentioned CGT event happened because you *disposed of the CGT asset - 6 months after the latest time a possible *financial benefit becomes or could become due under a *look-through earnout right relating to the CGT asset and the disposal.