Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

Division 124 - Replacement-asset roll-overs  

Subdivision 124-C - Statutory licences  

SECTION 124-150   Rollover consequences - partial roll-over  

124-150(1)    
You can obtain only a partial roll-over in relation to an original licence if the *capital proceeds for that licence includes something (the ineligible proceeds ) other than a new licence or new licences. There is no roll-over for that part (the ineligible part ) of the licence for which you received the ineligible proceeds.

Note:

If there is more than one original licence, some or all of those original licences may each have an ineligible part.

124-150(2)    
The *cost base of the ineligible part is that part of the cost base of the original licence as is reasonably attributable to the ineligible part.

124-150(3)    
The *reduced cost base of the ineligible part is that part of the reduced cost base of the original licence as is reasonably attributable to the ineligible part.

124-150(4)    
For the purposes of sections 124-155 and 124-165 , for each original licence that has an ineligible part:

(a) reduce the *cost base of that licence (just before the *CGT event that happened in relation to it) by so much of that cost base as is attributable to that ineligible part; and

(b) reduce the *reduced cost base of that licence (just before the CGT event that happened in relation to it) by so much of that reduced cost base as is attributable to that ineligible part.