INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 17A - Roll-over relief for certain disposals of assets related to small businesses  

Subdivision B - How roll-over relief is available on the disposal of an asset  

SECTION 160ZZPZ   ROLL-OVER OF REPLACEMENT ASSET UNDER SECTION 160X  

160ZZPZ(1)   [Acts or omissions in relation to the asset]  

If:

(a) a replacement asset that formed part of the estate of a dead person has passed to the dead person's legal personal representative; and

(b) sections 160ZZPX and 160ZZPXA had never applied to the dead person in relation to that asset;

anything done or omitted to be done by the dead person in relation to the asset is taken for the purposes of this Division to have been done or omitted to be done by the legal personal representative.

160ZZPZ(2)   [Replacement assets]  

If:

(a) a replacement asset that formed part of the estate of a dead person has passed to a beneficiary in that estate; and

(b) sections 160ZZPX and 160ZZPXA had never applied to the dead person, or to the dead person's legal personal representative, in relation to that asset;

anything done or omitted to be done by the dead person or the dead person's legal personal representative in relation to the asset is taken for the purposes of this Division to have been done or omitted to be done by the beneficiary.