Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY  

Division 615 - Roll-overs for business restructures  

Subdivision 615-A - Modifications for roll-overs between the 2011 and 2012 Budget times  

SECTION 615-20  

615-20   Modifications - revenue assets  

Substitute the following for subsection 615-55(2) of that Act:

(2) For the purpose of calculating any profit or loss on a future disposal, cessation of ownership, or other realisation of a *share in the interposed company that you acquired in return for those of your shares or units in the original entity that were *revenue assets at the time mentioned in paragraph 615-45(c) , you are taken to have paid:

	* Total worked out under subsection (1) for those shares or units in the original entity
	Number of those shares in the interposed company