Income Tax Assessment Act 1997

Part 3-3 inserted by No 46 of 1998.

Div 124 inserted by No 46 of 1998.

Subdiv 124-H repealed by No 133 of 2014, s 3 and Sch 1 item 10, applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011.

S 124-445 repealed by No 133 of 2014, s 3 and Sch 1 item 10, applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011. S 124-445 formerly read:

SECTION 124-445 Disposal of units in a unit trust for shares in a company  
124-445
You can choose to obtain a roll-over if:

(a) you are a *member of a unit trust; and

(b) you and at least one other entity (the exchanging members ) own all the units in it; and

(c) under a *scheme for reorganising its affairs, the exchanging members *dispose of their units in it to a company in exchange for *shares in the company (and nothing else);

Note:

See section 124-20 if an exchanging member uses a share sale facility.

and the requirements in sections 124-450 and 124-465 are satisfied.

Note:

The roll-over consequences are out in Subdivision 124-A . The original assets are your units in the unit trust. The new assets are your new shares in the company.

S 124-445 amended by No 12 of 2012, s 3 and Sch 6 item 65, by substituting " *member " for " member " in para (a), effective 21 March 2012.

S 124-445 amended by No 12 of 2012, s 3 and Sch 2 item 4, by inserting the note at the end of para (c), applicable to CGT events happening after 7.30 pm (by legal time in the Australian Capital Territory) on 11 May 2010.

S 124-445 inserted by No 46 of 1998.

S 124-445 amended by No 12 of 2012 and inserted by No 46 of 1998.