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-L - Prospecting and mining entitlements  

Operative provisions

SECTION 124-715   Original entitlement differs in area from new entitlement  

124-715(1)    
Even if the new entitlement relates to different land to that to which the original entitlement related, this Subdivision applies as if it relates to the same land in these cases:

(a) the difference in area is not significant;

(b) the difference in *market value is not significant;

(c) the new entitlement was granted to correct errors in or omissions from the original entitlement;

(d) it is otherwise reasonable for this Subdivision to apply in that way.

124-715(2)    
However, the rule in subsection (1) does not apply if section 124-720 applies.