Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 100 - A Guide to capital gains and losses  

Step 1 - Have you made a capital gain or a capital loss?  

SECTION 100-33   Can there be a roll-over?  

100-33(1)    

Roll-overs allow you to defer or disregard a capital gain or loss from a CGT event. They apply in specific situations. Some require a choice (for example, where an asset is compulsorily acquired: see Subdivision 124-B ) and some are automatic (for example, where an asset is transferred because of marriage or relationship breakdown: see Subdivision 126-A ).

100-33(2)    
There are 2 types of roll-over:

1. a replacement-asset roll-over allows you to defer a capital gain or loss from one CGT event until a later CGT event happens where a CGT asset is replaced with another one;

2. a same-asset roll-over allows you to disregard a capital gain or loss from a CGT event where the same CGT asset is involved.

Note:

The replacement-asset roll-overs are listed in section 112-115, and the same-asset roll-overs are listed in section 112-150 .