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-J - Crown leases  

Operative provisions

SECTION 124-585   Original right differs in area from new right  

124-585(1)    
Even if the new right relates to different land to that to which the original right 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 right was granted to correct errors in or omissions from the original right;

(d) the new right relates to a significantly different area of land but you had made reasonable efforts to ensure that the area was the same;

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

124-585(2)    
However, the rule in subsection (1) does not apply if section 124-590 applies.