Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-80
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ROLL-OVERS APPLYING TO ASSETS GENERALLY
Division 615
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Roll-overs for business restructures
Subdivision 615-C
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Consequences of roll-overs
SECTION 615-40
615-40
CGT consequences
The consequences set out in Subdivision 124-A also apply to a roll-over under this Division as if that roll-over were a roll-over covered by Division 124 (about replacement-asset roll-overs).(a) disregarding a capital gain or capital loss you make from the disposal, redemption or cancellation of your shares or units in the original entity; and
(b) working out the first element of the cost base of each of your new shares in the interposed entity by reference to the cost bases of your shares or units in the original entity.
View history note
Hide history noteThe consequences set out in Subdivision 124-A also apply to a roll-over under this Division as if that roll-over were a roll-over covered by Division 124 (about replacement-asset roll-overs).
Note:
Those consequences generally involve:
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