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 124-605   Change of lessor  

124-605(1)    
You treat a lease of land (whether or not it is a *Crown lease) granted to you (the fresh lease ) as being a renewal of your original right if:

(a) after the grant of the original right, the land (the original land ) to which it related became vested in an *Australian government agency (other than the one that granted the original right); and

(b) the second agency granted you the fresh lease over:

(i) the original land; or

(ii) the original land less an excised area; or

(iii) the original land and other land; and

(c) the fresh lease was granted under an *Australian law (other than the common law).

124-605(2)    
You do this even if there is a period between the end of the original right and the grant of the fresh lease if you continued to occupy the original land during that period under a permission, licence or authority granted by the second agency.