Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

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

Division 122 - Roll-over for the disposal of assets to, or the creation of assets in, a wholly-owned company

Guide to Division 122

SECTION 122-1 What this Division is about

A roll-over can delay the making of a capital gain or loss if:

• you dispose of a CGT asset, or all the assets of a business, to a company in which you own all the shares; or

• you create a CGT asset in such a company; or

• all the partners in a partnership dispose of partnership property to a company in which they own all the shares; or

• the partners create a CGT asset in such a company.